I have a $80 epson 850 that got me through the last year of college. A $120 epson stylus color 800 got me through the first three years. Ink on these things gets expensive... and they tend to piss through it if you don't use the printer at least once a week (you have to clean the print heads a lot).
If I had it to do over again, I would have spent the tiny bit more that an equivalent HP was. Their print heads are a part of the ink cartridge, which makes the cartridge a bit more, but much less cleaning and worrying about clogged heads than the epson.
Just a note: In college, color inkjets can be such a waste. The vast majority of what you print will be in black and white. The few times you actually want to print in color (something important perhaps) you will end up having to clean the heads, align everything, and it would have just been easier to find an on-campus lab with a color laser or stop by a campus copy shop to use their color laser. If you can find a good deal on a 1-2 year old black and white laser printer on e-bay or the like and you live in the dorms, you should take it. Free electricity means it's fine if the printer stays on and a single toner cartridge is cheaper per page than inkjets can ever be. Just be sure to budget a fair amt for the toner cartridge. My dad had an old IBM 4029 that had a toner cartridge that cost btw $150-200. This lab's HP 4100N takes a $70-80 toner cartridge.