Student community has always been looked at as a peculiar social barometer reflecting tendencies of public perception of social and economic reforms. The authors set a goal to study the values of the student community of a regional institution of higher education in modern Russia conditions as a basis for their life strategies. Analytical investigation lies not only in description of structural elements and characteristics of the social object under study, but also in finding out the courses determining its peculiarities and essence. The following sociological methods were used in the investigation: overt observation, content analysis of documents, mass survey, interviewing experts. The investigation of social and market behavior of students as the most dynamic group of the population makes it possible to assess the perception of reforms by the society, and not only in the present, but in the future as well, is practically important and necessary in work on developing social and economic reforms in Russia.