they dont have like dorm insurance or something like that? and i belive that one of bestbuys warranties covers theft. which is another reason i will never buy applecare and will gladly stick the bestbuy warranty
I got 'renters insurance' while I was in school that covered literally everything (except software and CD's) and it was like $25.00, I think it was a year... I remember it being so cheap that I couldn't figure out why no one else wouldn't have it. I still was cautious of my stuff but at least if the dorm burned down (or apartment building which happened to the place I last lived in pre-graduation) you are covered.
I did see, while working at a local computer store near university, a notebook that someone had yanked the lock off the system and it had bent the metal underneath and cracked the plastic of the case. Those are a 'deterrent' as has been pointed out, not an iron clad security measure. If someone wants your computer, they will get it. I saw a 'wall safe' at a local lock shop. It's in essence a heavy welded box with a lid and cylindrical lock. Pretty cheap as I remember, and is meant to mount in a stud space in a wall. It could easily be altered to mount under a desk or dresser or bed.
Another security mechanism is having a horribly messy dorm room. If there is enough junk around and stuff hanging from odd places, any thief could end up giving up searching and walk away. It gives you the opportunity to hide in plain sight things that you don't want to take the time to hide. Like the space between the foot board and the mattress, draped with clothes and piled with books and notes... Oh, plumbing access panels can work as stash places too...

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I'm surprised no ones mentioned this, but your parents homeowners insurance should cover you and your belongings from theft while living in a dorm at college. I would check into that. That, plus the lock, plus regular backups should give you some peace of mind.
For my parents, it was optional, and cost more than me getting the policy myself (at the time). (Although we found out, too late, that I was covered under their health insurance, for free until I graduated.)
Yeah, a cheap (ON SALE) Seagate or Western Digital drive can be a lifesaver...