Many college students like to subscribe to a few, favorite magazines. If you are paying the cover price for any magazine subscriptions, it is likely you are paying too much. Research has shown that magazine companies don’t expect to successfully charge the cover price. This price is used to help psychologically create the perception that the magazine is a truly valuable resource. A recent Media Life Magazine study uncovered that, in one category of magazines, the savings on all magazines in the category ranged from 35% to 77% off of the cover price. If a 20 year old, who subscribed to 3 magazines with a cover price of 3.50/magazine decided to investigate the possibility of saving just 50% of the cover price for each of these magazines and invested the savings, this decision could be worth over $110,000 at retirement. 

1.  http://freebies.about.com/od/magazinesubs/Free_Magazine_Subscriptions.htm allows you to get completely free subscriptions to a wide range of magazines. Go see if any of the magazines you are currently paying for are available here for free.
2. http://www.getrichslowly.org/blog/2007/02/14/save-money-with-a-magazine-exchange/ explains how to successfully set up a magazine exchange with neighbors and friends. This is a great way to save and better get to know the people around you.
3. http://www.magazines.com/ is a great sites that allow you to search for the best discounts on magazine subscriptions. 
4. http://www.smartmoney.com/spending/deals/magazines-for-less-18354/ provides a listing of lots of great places you can purchase discount subscriptions.