Is facebook.com taken? That sounds like it would be a good place for college kids to meet up?
Me being a college student loves shiny things and anything free (lol).
Seriously though, it might be kinda tough to break into the college world since Facebook is obviously dominating. As with anything else, you need to one-up the competition, so bring on a new take or perspective that will attract people already using Facebook. *cough*freestuff*cough*.