If you have Facebook. You can use facebook's application called Kanji Box.
Its really great, easy, and free. There is 3 modes for studying; kana, kanji, vocab. Vocab is for multi-kanji words like, Daigaku. See link.
http://img291.imageshack.us/img291/8877/kangjizo5.jpg
When you get one right. It gives an example. (BTW the ones in black are the ones my mouse is over.)
http://img516.imageshack.us/img516/5018/kanjizv4.jpg
When you get one wrong. It gives you the two wrong words.
When you are studying, you can choose word sets. The sets are the kanji from grades 1-8 or the JLPT 1-4.