Yep, college, too. There is a jump ball to start the game, and one at the start of each overtime. But throughout the game, if there are jump/held balls, the possession arrow determines who gets the ball. Once that team inbounds, the possession arrow goes to the other team. Alternating possession.
There's constantly talk of changing it at the college level, but it's never happened yet.
It's been like this my whole life. Now, granted, you probably went to high school in 1920, so I don't know what the rule was then.
