It depends.
It depends on the size of the university, whether you are someone people notice and know about, and whether the guy you're sleeping with is a popular guy or someone who talks to everyone.
If there is more than one guy, I can imagine people talking about it, yes.
Girls can do as they please for my sake. But of course everything comes with consequences. I know girls who've slept around then overheard that they're not girlfriend material or experienced guys coming on to them because they've know she puts out easily and they're "guaranteed to get some". Then they get upset and feel cheap. A lot of guys don't want to be in a relationship with girls who sleep around. You can do as you want, but I can't stand girls who make choices and then moan about the consequences.