Great idea for a thread! In the interest of revamping my seriously outdated wardrobe for bschool, I've been reading through a lot of the older threads on this topic. Building off what I've read here and seen on school visits, these seem to be the three main groups of clothing a student needs:
Casual: T-shirts, polos, shorts, khakis, fleeces etc. There was a wide range of clothing on display in the classrooms I saw, and it seemed that as long as it was somewhat presentable anything was fine.
Business casual: long sleeve collared shirt with trousers and decent shoes for some recruiting and social events. Unfortunately, I started reading about smart casual, business infomal, and other various combinations adding and removing ties and jackets, resulting in a lot of confusion.
Business formal: some recruiting events and all interviews- at least just about everyone agrees that this is a suit with tie.
Now that I think about it, I'll probably just hold off on buying more clothes until I get a better idea of what most people are wearing!