Andrej Karpathy's guide advises students to prioritize sleep over all-nighters, study well in advance, review past exams, practice active recall rather than passive reading, collaborate strategically, and focus on understanding over memorization. During tests, he recommends doing easy questions first, staying neat, never leaving early, and communicating clearly with graders. Most importantly, he emphasizes that while good grades matter, real-world experience through internships, research, and building relationships with professors who can provide strong recommendations are far more valuable for future success than perfect grades.