I would like to put in a thought as a college student myself. I think it is a very good way to add a bit of flair without breaking the casual nature of college. I personally always wear collared shirts, and either a vest or a sweater, depending on the weather, and most of the time, at least until it gets very cold, a corduroy jacket. The ascot, by not being knotted like a tie, and by being tucked into the shirt, can bring class without seeming particularly out of place. I do similar things with a scarf, being a voice major, and have been mistaken for wearing an ascot because I had a scarf tucked into a sweater. And to the earlier comment about being regarded as a homosexual if one wears an ascot I replay: it is far to subtle and nowhere near flamboyent enough, at least for the crowd I have encountered.