If I was you I would look around in my classes and see what the sorority women are wearing and emulate their level of designer or lack of designer. On my campus sorority women wore all different stuff from Old navy to Burberry...
Personally I am more on the side of being your self... but you should be your very best you
I think it comes down to wearing what looks best on you and what you like wearing.
I have a wonderful faux Coach and Prada purse