A term used by obnoxious college students (usually freshmen) to refer to the apparently unique lifestyle they are currently living. Very commonly used on Facebook, especially as a photo album title, usually containing numerous pictures of drunken bitches with case upon case of Keystone Light in the background.
Asshole #01- "Oh bra, I have like, a one page essay due tomorrow and I'm freaking out!"
Asshole #02- "That sucks! Welcome to the college life, man."
Slut #01- "So, like, last night, me and Slut #02 went to this party, and like, we got sooooo drunk, and then like, someone slipped us roofies, and I guess like, we got gang raped or something! I'm not sure, but my butthole hurts! Hehe!"
Slut #03- "Ahh. The college life."