I graduated in 2009--here's what worked for me:
1) Figure out your study style--some people are hands-on, others are visual while still others are auditory. Find your style that will help you retain the information and use it.
2) Study both individually and in groups--a lot of OT schools are pushing group work and it can really work for you if you find people who are good study partners (it was a struggle for me because I am more of an individual student but eventually I found a great group who remained a good support group even until we took the board exam!). Groups are really good for splitting up study objectives for exams, practicing ROM/muscle testing or for finding additional resources that you didn't find on your own.
3) Give yourself enough study time--I know that this sounds like common sense but a lot of people worked or had families and although it was possible, it was a struggle. They made schedules where they had free time to focus without distraction and this is also where being part of a group helped because they could rely on others to help split up the work of finding information to compile study guides etc.
4) Talk to your professors if you don't get something--this is essential in classes like Kinesiology or studying about clinical conditions. Most professors are very willing to take the extra time to explain things if you don't get it.
5) Try to apply the information not just memorize it--a lot of textbooks offer clinical examples or use fieldwork where you're seeing/working with real people as mental examples for connecting what you learn to real practice. This is how you'll need to think for the board exam as well.
6) Use OT school/fieldwork as a way to network for future job opportunities plus it keeps you grounded as to what your goals are.
7) Finally, find time to relax and stay connected to your family/friends--OT school is challenging and sometimes frustrating but you need to have lifestyle balance and still enjoy life(!) so that you are successful getting through it.