You could also make a "365 memories" book. Trust me when I tell you there is nothing I cherish more than the photos and memories I wrote down from my time at UWO! Make something like this and you will be thankful later. :)
DIY Button Covered Monogram. It would be cool to have your and your roommate's initials!
Storage is always key...
Elmer's glue on canvas. Then paint the whole thing one color. — Simple, yet effective. You can hang a canvas board up pretty easily using some wall hangers. :)