Partying is fun, but expensive, and not worth it. It is a thousand times more fun to goto the bar, have a beer, watch baseball, play pool, eat wings. Dont get in trouble your first year.
Make sure to spread your classes out, and give yourself little breaks. Make sure to utilize these for class work.
Treat school like a job. The second your on campus, DO NOT LEAVE. From 9am - 5pm, when not in class, be working on classwork/studying. Come 5pm, your free to do whatever you like, and prevent the stress of cramming, and last minute homework rushes.
Remember theres always a party next weekend, but there isnt always another chance at the test you have on Monday.
Take things slow, wear protection if you choose to sleep around. College is a breeding ground of disease, and I know plenty of people whove ended up with gonnorhea, and etc. Even though it's curable, save yourself the embarassment of calling the cute broad from the night before.
Keep in contact with friends and family. They WILL send you care packages, and they are just as exciting as the ones in Call of Duty MW2. Also, you never know when someone is partying for spring break as you, and can end up with a beach front condo.
School first, than everything else. Ive learned this the hardway.
Dont cram your classes, take a fun one every semester so you have something to look forward too everyday, and a break from the grind.