As a university teacher, I don't think my students are usually massively advantaged or disadvantaged by just how tip-top their computer is--having one, though, is obviously a big plus. Students' own initiative, hard work and curiosity count a lot!

For a lap top there are some additional considerations you might want to weigh up for effectiveness and peace of mind.
These other considerations would be:
insurance policy, keeping dorm locked, a good back up hard disk or capacity to back up work onto a university system and awareness of the importance of doing this regularly--I can't stress this enough, especially for long projects; compatibility with local printing facilities and network.wifi, guarantee and a service contract to minimize stress and expense of repairs...extra battery pack? good safe carrying bag? surge-protected extension cord? A clear plastic keyboard cover in case of coffee spills?.... Printing at times of high demand can be difficult if a campus has limited printing facilities or rations student print accounts, so perhaps you might want to consider whether to get a printer too and then which--the cost of cartridges and paper is the ongoing expense there. Then ergonomics and avoiding RSI--a good stand or an extra keyboard larger that the laptop is nice too.So maybe plan the whole package of what will work well and be convenient and and trouble free with all those extras factored in.
   Recreational uses of computers can overtake practical ones--that's just life. So music and photo programs.....