If you're the adventurous type with no fear of food poisoning or money wasting, I would recommend trying out the diners in the area. You may just luck out and find a hidden gem where some little old lady will cook you up the best cheeseburger and fries for no more than the $3 you have left over from the money your parents gave you the last time you saw them. Or you can take yourself over to Imperial Palace with the rest of the college crowd and bask in the eclectic mix of Asian surroundings and muzak while waiting for your tea to come. Beloit has all the fast food staples, a couple of brand-name diners, and lots of other not-so-sure places you can take your stomach to. Café Belwah is the only really nice place that's very close to campus. The atmosphere is quite pleasant, and the food is superb, especially after a couple months at Commons.
Beloit definitely loses points on lack of choices, but we've already established that the town is less than extraordinary, so it shouldn't come as any big surprise that the restaurant pickings are slim. Madison, Janesville, and Rockford have some pretty good places, though, and it might just be worth the trip to get off campus for an evening and eat a good meal. And you can take the leftovers home for the next time you feel like avoiding the dinner crowd on campus.