Futon. The ultimate dorm room multitasker, a futon can be whatever it needs to be: a place where friends can pile on with the popcorn on movie night, a spot for stretching out and studying for finals, a crash pad for a pal who's locked herself out of her room. And its flexibility makes it a superb addition to an adult space as well.
The difference? Styling. Instead of the lumpy old futon handed down from your roommate's big sister, choose a sleek design such as this one. Give it a worldly note with global-patterned throw pillows and elevate it with a restrained, neutral setting.