2001 Toyota Celica GT 2dr Hatchback (1.8L 4cyl 5M)
This is by far the best car for a college student. Sure you wont be able to fit 5 people in there, but thats about the only downside. 4 is no problem. 30mpg combined, cheap regular gas, looks good, and the most reliable car I've owned. Good handling, good steering. Headlights are bright. Good hatch space, was able to fit a 32" TV (tube, not flat panel) in there. Try that in your coupe or sedan!