While the suspense of the Oscars makes the event fun for anyone to watch, one part of the spectacle excites women everywhere: the Red Carpet. It is here that fashion takes the stage, as starlets show off the most exquisite dresses and jewels around, carefully selected for them by top stylists and couturiers. Each year, trends are born on the notorious red rug, with images of the beautifully done-up actresses (and a hefty helping of fashion disasters) appearing in tabloids and high-end fashion publications like Vogue and Bazaar for months, sometimes even years. Most college students, however, seriously lack the occasion to wear full-length Oscar gowns and often opt for more youthful, leg-baring cocktail dresses. Fortunately, non-designers outside the world of haute couture stay perfectly in step with Oscar style, drawing inspiration from the formalwear donned by celebrities at this big-name event. But where to find dresses worthy of a star at a fraction of the price—and what to look for? Below, some pointers for achieving Oscar-style glamour on a budget (and suitable for your semiformal).

A range of reds: Warm hues were all over the red carpet at this year’s Oscars. Harder-to-wear orange and burgundy shades flattered darker skin tones like Jennifer Hudson and Penelope Cruz, while true, classic reds complemented porcelain complexions like Sandra Bullock’s. While it isn’t a neutral in the typical sense, there is a shade of red to match every complexion, making it an easy standout color to pull off. When sporting a vibrant hue outside an awards show, keep the dress’s silhouette simple and close-to-the body (not skintight) and the length mid-thigh to knee to avoid looking garish: you’ll be surprised how much attention the color grabs on its own!

Elegant nudes: Always one to shine on the red carpet, Halle Berry did not disappoint this year: radiant and smiling, she looked every bit the megastar she is. Wondering how to steal Halle’s look for a function that isn’t black tie? Stick to a nude frock with details or add-ons (like Halle’s beading and tulle), which keep you from looking naked. Also, pick a dress a couple shades lighter or darker than your natural skin tone in a short length to make this of-the-moment color young and fresh.

A touch of shimmer: With flashy sequins and studs splashed all over everything from dresses to bags this past season, copious sparkle just doesn’t seem that surprising anymore: probably the reason why Gwyneth Paltrow’s minimalist shimmer shined at this year’s Oscars. Gwyneth hits the mark with this dress’s slimming column silhouette and minimal accessories, which keep the focus squarely on her natural beauty. For a less formal spin on Gwyneth’s red-carpet sparkle, don’t be afraid to deviate from a straight-up-and-down shape. Rather, be on the lookout for a neutral base color (silver and white match every skin tone) and clean lines, which flatter all shapes, not just Gwyneth’s tall, thin frame.

Goddess gowns: To anyone who argues that good style is limited to those with a model’s proportions: behold the goddess gown, whose draped folds and nipped waist make women of every shape and size look like modern-day Aphrodites. This silhouette is classic: when choosing a formal or semi-formal version of these gowns, there’s no need to shy away from bright colors like Selena Gomez’s strawberry hue. And tastefully showing a little more skin—like Selena’s deep-v and Mila’s low scoop neckline—is perfectly acceptable, since the draping conceals curves and keeps you looking covered. Fuller on top? Try a shorter silhouette that shows some leg to offset the dress’s extra fabric.

(All short dresses Alice+Olivia)