Dorm room accessories

It seems that today's college student has a much more luxurious existence than I experienced in the early to mid 1980s (and I'm sure we had more than the generation before us). It's not an issue really, but if college kids are getting all that space how are they learning the following:

Given a room 12' by 10' how do you fit the following items while still leaving enough room for a party consisting of a dozen people or more?

• two beds
• a stereo & two record collections
• a television
• a fridge
• a couch (that folds out to form a bed)
• a fish tank
• two desks, two chairs and two book shelves
• enough storage space for two students' wardrobes

I have half a memory that we had a lazy boy chair too, but now I'm not sure.