Love the idea! I was in my Uni's radio station and it was such a blast. I made some great friends, had some great times, and learned a ton. Our "chief engineers" were fantastic engineers. The amount I learned from them is incredible.
Radio is interesting because there is a required structure (mandated by the FCC) that is fairly strict, but leaves plenty of room for creativity and freedom. Great way to learn how to work within constraints and get the most out of something.
If any college students are reading this, consider joining your school's radio station. It was a great way to meet people and learn.