Based on 512 questionnaires of college students in Anhui University, this paper firstly analyzes the influence of individual feature on college students consumption level by ordered Probit Regression Model, then analyzes the impact of different levels of individual feature on consumption expenditure by variance analysis method, and the results show that college students consumption level is significantly affected by the grade, family location, family income situation and financing ideas of college students but it is not obviously affected by gender, major and the number of siblings, and the family income has decisive impact on college students consumption.