Memorization is great for pre-reqs, but in nursing school
you have to be able to apply knowledge into practical application. Some memorizing is good, for things like normal lab value ranges etc.. but more importantly you have to understand what for instance hypokalemia (low potassium) does to the patient so that you can choose the right action and also know WHY you are doing it (rationale).
Personally, I like to at the very least skim the text and I pay particular attention to anything it says for the nurse to do and I also read ALL the boxes in the text. I also record the lectures, and I listen to them usually when doing something I enjoy.. like playing World of Warcraft. It works for me that way, otherwise I would fall asleep. Study groups are great too, as long as everyone is focused. I also have review and question books such as Fundementals Success which has questions like the ones that will be asked on the exams.
Also, utilize your resources.. if you don't understand something.. ask!! I know a time or two I wondered about something I didn't quite get in class and I went to the professor afterwards, and she explained it again and without the constraint of the classroom and having a lecture to finish, she was able to explain it so that I understood it.
Hope that helps!!