It's a common fact that college students are broke, like broke-broke. The gift list is looking like a lot of hugs for the loved ones, and it's important that they actually get them. Grandparents, older siblings, and other extended family don't tend to get the time they deserve while we're in college. It's hard to divide the time between work, family, friends, etc. especially when the academic calendar only affords us three days to fit everyone in. So, during the holiday season, if you've got the time to sit at home and do nothing, you've got time to go visit some people you haven't seen very much.
If you haven't got the quantity, at least provide quality.
The time you spend with them should be focused on them, not on your phone. You may as well not go if all you're going to do is scroll through Instagram or show grandma how to use Snapchat. Ask her about things she enjoys or offer to do something for her around the house. Spend your time paying attention to her, not those twenty people you snap on the daily.
Maybe quality time and long winded conversations aren't your forte. In that case, an act of service can go a long way. Have you noticed that your grandfather hasn't been able to get out there to fix the lawn mower? Do it for him. Not knowing how isn't an excuse because YouTube exists and I know some kind man with a southern drawl has a video about fixing any issue that lawn mower could have. Do some house chores that you would normally do in your own apartment or offer to cook dinner for them.
Show them the loving kindness that they showed you when you were little.
Just because your wallet is empty doesn't mean you can't afford to do something for your loved ones. Think of something lovely that costs $0.00. That might mean more to them than getting them a necklace ever could.