its definitely possible, seeing as me and my 5 best friends have been going to wdw for spring break since out freshman year.
and just to give you an idea of our situation- none of us come from rich families, and we are all in college.
if you stay on property, and you get a dinning plan, its definitely possible. because no matter what, if you stayed off property, you would need a car, and therefore money for a gas and parking, and you would be paying more for your food than you would on the dinning plan.
we just save our money up for the trip every year! though, this year instead of spring break, we went in august- because one of us will be student teaching.
its a great time, definitely a different experience than it is with family. both experiences are equally amazing though!! if you're thinking of planning a spring break tip and need tips from a broke college student, let me know!