1. Don't skimp on where you live (live in a good place in a great location like right above Murphy's). The rent seems like a lot when you're a student, but in hindsight it's the best deal you'll ever get. Don't live far away from north campus to save money.
2. The ACM at UIUC is pretty amazing, they have a secret lab underneath DCL where they have every thing you could ever want to build a robot, hack on Arduino (I think I salvaged a HP oscilloscope).
3. If you're looking for some more money - there are a lot of companies out by Assembly Hall (motorola etc). Good jobs/pay, really painful to get to.
College is definitely an adjustment but I found my groups I enjoyed hacking with, going to Brothers' with, going to Murphy's with and got a lot out of the experience.