Good value
I disagree with the others. No name is too long if it has meaning. Let's ignore the legal issues brought up earlier which may make the name worthless.
I think this name is worth mid $xxx at least.
I once registered a 19 character 3 word domain. It was clever and memorable and I think its value came from a popular meme. At its peak I received 15,000 visitors a day. I sold the name and its website for a bundle (that is why I can't mention the name).
I often forget a domain name because it is nonsensical or not the spelling I expect.
I think StudentsGoneWild is a very marketable name. It is memorable. And if the content delivers what the name promises, very valuable. Most websites are spread by word-of-mouth (including media). Nobody is going to forget that website name after hearing it...same as I never forgot MrSkin.com when I heard it on the radio. And let's face it, that spark of "badness" that the name projects just adds to the value.
Any student with a video camera and some willing participants can easily generate hundreds of dollars monthly with that name.
OR (I just thought of this)
Even if you were to just put on funny stories and jokes (update daily) from a campus angle you'd get enough daily traffic to justify a few hundred for the name. ... this makes me want to register ... DrunkenFratBoyStories.com
Anyways, I think I have a different perspective from other posters here,
but I think you have a great name. All you need is some marketing behind it (assuming "Girls Gone Wild" lets you).
IMHO