I've Actually Seen BOTH Sides of this Issue
I've actually seen both sides of this issue just from an anecdotal perspective...
Pro: I knew a girl who was almost certainly raped by a member of the football team, and she went through a maddening process of "shut up" by everyone from the school admins to the local police--most of whom aren't going to compromise the university especially if it's a college town. [I also heard of a similar, credible case involving a fraternity guy and the university president being in the same fraternity and being reluctant to really look into it.]
Con: I knew a guy who was accused of rape by a girl who was mad at him, and I know for a fact he didn't do it because the supposed night of he left the party with a bunch of us. Criminal charges never stuck to him, but it was investigated (because he was a nobody in terms of sports or fraternities) and she still spread the rumor all over campus pretty much destroying his reputation.
Different Pro: And then I personally had to report a crime--not a rape--on campus, and it was staggering how much the local cops didn't give a ****. They just didn't want to draw attention it at all (like even putting it in the paper to look for suspects) because they didn't want the university to look unsafe. And school admins weren't sympathetic at all, I mean not even to the point of re-scheduling exams.
In Summation: I can see why some posters on this board are concerned that false rape allegations could ruin somebody's life, and they definitely could. BUT I also think universities--like all institutions including the Catholic Church--are reluctant to investigate crimes because they know parents won't send their kids to colleges that are deemed "unsafe."