I think time management skills play a big role. I'm actively involved in 2 organizations, somewhat involved in 3 others, work in a lab, am running my own research study, volunteer on weekends, and am taking a full courseload, but I have yet to pull an all nighter. I'm always planning things out and basically live off of google calendar. I get about 8 hours of sleep a night. There have been nights I've gotten more/less but I try to get at least 7 even then.
I got a lot less sleep in high school and was a lot less busy. So far in college, I've had a lot more work but a lot more time to get stuff done, and my schedule can be pretty flexible at times.