I have a 1998 V70 XC and a Honda Accord. While I love both, I have a love/hate relationship with the Volvo, since there has been a long list of costly maintenance and repairs. Accords never have those problems. The Volvo, with a high compression engine, requires premium fuel to avoid knocking. Accords have lower compression engines and can run on regular.

Simple advice... if you're concerned about paying a few extra pennies for premium fuel, you will die when you get the first few Volvo repair bills. It would not be unusual to drop another $3,000 within a year for the Volvo (think of an A/C evaporator and maybe some transmission work). For people that can afford the repair bills, the extra pleasure of driving the Volvo may be worth it. Cheaper gas and non-existent repairs for the Honda make it the right choice for a college student. Get a Volvo after you graduate, if you want.