You dont seem to understand so I'll try breaking through your thick skull here for a moment
*grabs 20 lb sledge*
If you or someone riding your ATV hits and injures someone else or someone elses property, I dont think you would be able to fork out the possible THOUSANDS of dollars to pay to get it/them fixed. I sure as HELL wouldnt want that on my conscience. Oh, and you'd most DEFINITELY would have to drop out of college, sell your truck, and get a job to pay for these damages. Good luck ever getting out of your parents house too, as you wouldnt be able to afford living somewhere else. ALSO, you'd most likely be sued for damages on TOP of what you owe (that the insurance company could have paid) making it even MORE difficult to pay for your stupidity.
So do me, no, do ALL of us here a favor and just get the damned insurance (its less than $20/month).
Oh, and as for financing, good luck with that on top of the school loans. If they do finance you (which is gonna be a fat chance in hell) it will be above 15%, making it difficult to keep up with it. Which brings me to a question I have. How do you expect to pay the monthly loan payments when you have to save up and/or borrow money from your parents to put a down payment on this on TOP of fixing your truck up?