I agree with HuskyPup. 1% isn't necessarily bad. Maybe your content is *too* interesting, and vistors don't want to leave your site :) OTOH, there are certain types of sites that just don't attract people when they're in an ad-clicking mood. For example, CPC ads would perform poorly on a site that offers free online games, because people are there to play, not to buy.
Chances are that people visiting a college blog are not looking for goods or services - something they want to spend money on - but for information or entertainment or just to read comments/news. So they are probably not particularly receptive to ads.