I'm a native State Collegian now at college elsewhere, so I can't tell you too much about student housing, but the town's really not as lame as it might sound. There are several theaters around, though you have to drive for the biggest one, and I think one downtown may have closed(?). There are plenty of good restaurants on and near campus, and a mall that's about a 15-20 minute drive away. Penn State has an art museum, mineral museum, etc., and there are student shows, big concerts, and other entertainment. The airport is a pretty short drive from town; it's not very big (and thus is sometimes pricey), but it's convenient. There's not much in the areas around State College, but I think it's possible to take a bus for day trips to NYC/Philly if you need a big city fix.