Why do you think you are?  Do you have a state tax due?  Are you having any fees deducted from your federal refund?  There is an EXTRA 39.99 service charge for that.

Because on my return it says over 1,000 was withheld from federal and 300 was withheld from state, yet i am only getting back 430 for the both of them. Shouldnt I be getting close to those amounts back? and no I have no fees being deducted.

I earned almost triple what I made last year and I am getting back less than last year. I am not close to owing anything. I have friends, who are also full time students, and they get all their money back. ???

Everyone's tax return is different.  You can't compare yours to anyone else's.  You made more so you owe more tax on it which usually means less refund.  Look at each line on your return.  If you don 't understand a line ask.  

Yes you owe tax on your income.  Everyone does unless you made under the min amount.  Then you subtract the withholding and either get a refund or owe more.

STUDENTS PAY TAXES TOO

Being a student has nothing to do with it. Students are not exempt from paying tax.  If you are being claimed as someone else's dependent (parents?) then any money you have in Box 1 of your W-2 that is over $6350 is taxable income.  So you do not necessarily get back all of what you see in Box 2.  The government gets to keep some of it.