Working within the limitations of the shared world generally made the writing easier, because I didn't have to invent any of the characters or background, which is usually the hardest part.
Even if you only want to write science fiction, you should also read mysteries, poetry, mainstream literature, history, biography, philosophy, and science.
I can't speak for the other authors, but what I hoped to achieve was to illuminate certain corners of the Lucas universe that hadn't yet been explored.
I found college useful for a lot of other reasons. It exposed me to a great many influences I wouldn't otherwise have encountered, and gave me a lot of time with some very intelligent people whose thoughts are still with me.