Newsweek‘s cover story: Facebook. It’s a fundamental part of college life today (it is even having an impact on roommate selection, according to ABC).

It’s spreading beyond the campus, though, and that has some teens freaking out. E.g., “Ick, old married guys on Facebook.” Employers are also using it to get a better sense of applicants.

Update: Are there class differences between users of Facebook vs. MySpace? See Newsweek and The Guardian. Both based on a study by grad student Danah Boyd, Viewing American Class Divisions through Facebook and MySpace.