Be on the top of your search and apply for scholarships that will take care of a lot of your bills
There are freeware options for students which are just as adequate as the expensive software
As students, if you still want to buy that cool T-shirt, go ahead. But instead of buying a branded item, you can go for local-made or local market item
Loans don't come for free, as the EMI is your own liability. Restrict yourself from taking loan, other than education loan
When you are going out with your friends, it is always wise to split the bill
Host of parks, libraries, museums, transports etc offer rates to students at a discounted price. Avail them
Spending on fuel costs a bomb. You can still go to places you want, just take a public transport
Eating out once in a while is fine, but try to limit or restrict it as much as possible
You really don't need excess stationery supplies. You can easily limit them with things that are most essential and cut down on the unnecessary ones
First hand books are sometimes very expensive, and the same books when sold in the old-books-market, comes at a much cheaper cost