Big Man on Campus

Everyone knows Mister Cool. He has the social skills that made him popular in high school and now he's even more awesome that he's in college and his parents bought him everything his heart could desire. Chances are he's involved in a fraternity and everyone enjoys partying with this socialite.
The problem with Mister Cool and his swag lifestyle is that college is not all about parties or meeting tons of women, though it is certainly a part. College is mostly about furthering your education, which is something most freshman struggle with. This is why freshman year for many students, though not academically the most difficult, is still the most challenging year and why drop-out rates are so high.
Learn to balance your time unless you plan on college being one year long party. If that's your goal enjoy it while you can, because you're bound to lose scholarships, money, and parental support. Learn to be independent and make responsible choices. There will be certain days (or nights) where you simply cannot go out and party with your new found friends. These includes nights before exams, interviews, or in-class presentations. If freshman realized that by choosing their party nights and their study nights carefully, there will be greater career success as well as future parties down the road.
Getting a girlfriend freshman year can certainly complicate an already challenging situation for the incoming freshman. Of course, the cool crowd (not that much has changed since high school) will seem to balance money, girls, party, and school with ease; however, when their final grades come in, they are sure to realize how studying would have improved their grades.
There will always be another party, but there may not always be another chance to submit your report on time or to know everything you need for a final test. Professors my freshman year were much more lenient when it came to submitting reports and such on time than my senior level classes were. So keep in mind that if you barely made it by freshman year in regards to having late papers submitted you may have to change your study methods and style of work.
Academic integrity is something that the socialite may lack and he may try and cheat on tests or on papers. The only person this hurts is him, both in the long run and in the risk necessary in the short run. The best bet for all incoming freshman is to learn the importance or organization and respect for the teachers in the classroom.