For the student on your list, how about a pretty notebook cover? These come with a marbled composition notebook tucked inside, and when they fill that up with class notes, they can slip out the old book and add a new one. It ties closed so they can fill it with loose papers and notes and it will all stay together.
Covered Notebook, $20
A key fob always comes in handy and these make great stocking stuffers. I love the bright colors of the fabrics and can always find my keys, even when they're buried in my overstuffed handbag. Yes, I do test all my products :)
Key fob, $6.50
When I was in college and headed out to party, carrying a handbag was too bulky and too much trouble. I would have loved a mini wallet to slip into my pocket. It's just big enough to hold an I.D. or drivers license, and a credit card or small amount of cash. I don't know how many times I washed my driver's license (paper back then) accidentally when I left it in my pocket after coming home late.
Mini wallet, $10
Receive 20% off your Primrose Design order by entering discount code HOLIDAY when you check out. For guaranteed delivery in time for Christmas (in the U.S. only) please order by December 15th. Offer expires at midnight December 31, 2010.