Considering that the student is 17, I doubt that it is a frat prank. It’s also quite common for shoplifters to steal low value items, even when the potential penalties far outweigh the benefit. For example, the article at http://www.economist.com/node/13832435 mentions that a man was sentenced to life in prison for shoplifting an ordinary $2.50 pair of socks, under the 3 California strikes law (law has since been modified). He should have been aware that he was on his 3rd strike and risking high penalties, yet he still decided to shoplift a pair of socks while waiting for his girlfriend at the mall.