I'm a university student, and in my opinion, you should be able to look back at your student years as your best-dressed years. As a student, I have the freedom to wear whatever I want, no company dress codes dicating my style, and I'm still young enough to get away with many things that would make me look ridiculous if I was 5-7 years older. I make the most of this freedom, I experiment, take chances, I dare to wear outfits that some people might find provocative, quirky, or even plain ugly- just because I can! Of course, being a student, I, and many others, have a more limited budget than people who works for a living, but I don't mind living on tuna for a month or two if it means I'll have enough money to buy great clothes.
Some of my friends have recently finished their degrees and started working- one in a lawyer's office, which means she's had to buy a whole new wardrobe consisting of clothes she doens't even like that much, as her edgy style won't be tolerated in a conservative environment like her workplace. That makes me appreciate my life- and style- as a student, even more. I make an effort to look my best, even if I'm just going to class, not preparing for a runway show.
I'm majoring in literature, and I have to say that the majority of both men and women could use a makeover- desperately. All the earth tones and Palestina scarves make me sick.