Any advice on college dorm life? What to watch out for?

Make sure there is an open communication between you and your daughter. I am not a parent yet but based on my experience of living in dormitories, these parties and bad things will help her become more mature in making decisions. It is better for her to not drink because she thinks she cant handle it or she has to study, than to decide not to drink because her mother will be angry (which, in the future, may not be enough reason for her). But if you have open communications on what parties she will be going, what stuff she will do, she will somehow learn to experience these things firt hand, with your guidance, and learn that partying all night will give you a whole day of headache, making her think twice before attending another party. Make sure the communication channel is open so you can monitor her while she experiences these things. Remember, a baby learns to walk by falling down a lot of times and letting her walk on her own with you standing nearby to make sure she is not hurt when she falls (but not necessarily catching her before she hits the ground)