Students should be familiar with various parts of stress management: life stress, study stress, time and social management etc. It is not easy to tackle all these at once.
The first step should be to set up your goals and understand which ones are more important to you. (Remember, it's your life - your goals should be your own as well.) Are you a student because you want to get diploma, to learn, to network, to socialize, or because you don't yet know what to do with your life? All of these are valid and acceptable goals as long as you don't lie to yourself about them.
Stress management gets much more easier when you are not confused and know where your priorities lie. Focus on what is most important to you, and if time or willpower runs out for the less important parts, it won't be the end of the world.
There is one golden rule: don't allow yourself to be bored! Look for a greater challenge, work towards it, enjoy life and share the fruits of your labor with people around you. Humans are wholesome beings; if you cut out a piece of yourself, stress will be greater in the other parts.