Hi! I was also accepted into Saint Rose's CSD program for the fall. I used to live in the Albany area, and I can't wait to get back in the fall. As far as night life goes, Lark Street is one of the more popular areas to hang out. There are plenty of bars, restaurants, and coffee shops there, including Bomber's Burrito Bar (fun bar upstairs, amazing burritos downstairs). As for dancing, there's Jillian's down on Pearl Street (a little further south from campus than Lark, so probably not walkable) as well as a few other places strewn about the city. It all depends on what kind of music you're into. Jillian's is more of a "dance club," whereas someplace like the Fuze Box on Central Ave is a bar that happens to have dancing (usually 80's or 90's theme nights).
I keep reading all the old posts about safety, but I spent my early 20's having tons of fun in this area without ever worrying about my safety. Feel free to PM me if you want. I'm eager to meet other students who will be attending the CSD program!