I first read The Hobbit and the Lord of the Rings when I was in college, around 1970. Back then, nearly everyone I knew had a copy of the books on his bookshelf, and some had actually read it! Tolkien never was a cult classic on college campuses; it was mainstream, waxing and waning in popularity as time went on.
Favorite Tolkien character:
Samwise Gamgee, wise, stalwart, brave, and loyal through it all.