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I know this is a pretty old thread, but ... my initial thought was also "DINK" = "Double Income No Kids". I remember the beanies from "Animal House" but I've never heard the term "dink" in this context before.
At my mother's alma mater, St Andrews, there was the tradition of the raisin string. First year students, known as bejants or bejantines, were paired with a senior man or woman who would help get them acclimated to campus life. On Raisin Monday (in early November) the bejant/ine had to present his/her senior person with a thank-you letter, which had to be written in Latin, Greek, or Hebrew. The senior person would then present the bejant/ine with a raisin string - basically a string with little trinkets like silver charms - which the bejant/ine would attach to his/her academic robe. (All students were required to wear academic robes to class.) Until you got your raisin string, older students could haze you, which typically involved reciting verses from "Gaudeamus Igitur". It seems the tradition has morphed a bit since my mother's day, but the basic principles are the same.
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