To me, I'd include a wide spectrum of all the work you have down, from banners to flyers and posters etc. Play to your strengths and admit your weaknesses and where you want to and need to improve. It is college so they'll expect a certain level but not experts.
Select arounf 8-12 pieces hat best show what your work/style/passions are. Try to make them as muhc your work as possible. So in your case, try to minimise the use of stock and shoot some of your own. Even if this is really basic stuff. Try to think around the issues and holes you feel you have. If you wanted to create a film poster for example, you might need to use your imagination and think around the problem to come up with innovative ways (and therefore more creative and visually exciting ways) to tackle the subject matter.
On a side note, losing work is darn annoying. I've lost a lot of my old stuff with computer crashes and the like. Used to have a lot of really nice PS only work, creating worlds and surreal scenes. So back it all up and keep it organised.
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