Originally posted by: jdjbuffalo
Everyone is right here. You can skimp on almost everything but the bed. Believe me, no one is going to want to sleep next to you on the floor. A futon would work if you must but I would still recommend a real bed. You don't have to get a big Queen or King but try to get a Full. It's big enough for you and can still accommodate someone if they spend the night. One other thing to realize about college is that you often times won't be getting a lot of sleep or you'll be getting a little here or there. This means that the time you do spend in bed is important. This means you need a comfortable place where you can get a restful sleep.
If you're concerned about price it can be fairly inexpensive if you go the Craig's List route. I sold a full size bed that was very comfortable (pillow top), in good condition and only 4 years old for $150 (I tried selling it for more initially but I didn't even get a bite at $200). You can probably find a descent one in the $90 - $150 range in most places around the US.