Head to the store and see if it does what you need. It has Pages and more so it may be OK.
Be sure to look around at what other students are using.
I'm a college student, and I currently own a 13" MacBook Pro and an iPhone 4S.
I've found that carrying my MBP around often is quite a pain, because it can be quite heavy when combined with my books and everything else. I'm looking at turning that 13" MBP into basically a desktop, just keeping it in my dorm, and buying something smaller to carry to class and use when I'm traveling between college and home.
I'll basically be using the smaller device for taking notes, surfing the web, possibly making powerpoint presentations or using excel, etc.
I'm wondering if you all think it would be best to get an 11" MacBook Air, thus staying in the Apple family, or getting something Windows-based instead. If I were to get a MBA I would definitely end up purchasing the Microsoft Office package because I find Keynote and Numbers to be a pain to deal with compared with Powerpoint and Excel. So do you think there is a reason to go to a Windows-based ultrabook, or would it be wiser to just stick with Apple?
Alternatively, do you think there is any tablet that could compete with a MBA or ultrabook? I.e. the iPad, the Microsoft Surface when it comes out, or any other tablet out there? Is there one that could do the work that I need?
Basically I'm looking for the smallest, most lightweight option that can do all the work I need it to in class and such.