My advice for a college bike would be an older steel frame road bike, as old as you. Use the rest of your summer to scour garage sales, craigslist, and charity shops for high quality, gently aged frame. Look for stickers that say Tange, Reynolds 531, or True Temper. Buy it for a song and then take it to the local bike shop and have them give it the once-over.

Lots of blingy bikes get stolen every year at college. You don't want bling. You want the Millenium Falcon: She may not look like much but she's got it where it counts.