AppleCare, if you are this tight on cash, then I'd look to get it. It sounds counter intuitive, but think about it. While it wont fix blatant damage or ware caused by humans, it will cover breakdowns and repairs. Can you afford repairs?
More below.
A good case, this is more important than any other accessory
(see Below).
Other things to think about, a second battery, or additional AC.
I normally don't coach away from Apple, but you know that you likely get a student discount with MS Office. Another alternative is open office, or Nissus Express. Nissus Express is really a fantastic program, that I may switch to because it has no VB compatibility, and has a number of iListen scripts that I want to use. Open Office is free, ported to OS X, and gives the finger to certain large computer OS companies. It is likely that you will get a 90 day trial of iWork to see if it meets your needs.
The reason I mention MS Office, is that while you may be able to work with iWork, you mates might not. I just had three classes where I needed to collaborate with class mates in real-time, and MS Office was the most universal interface that we all were familiar with.
Humm, anything else. Down the line, get a good FW drive, and make a bootable clone your computer at least once a month.
Re- a case.
A good case is the most important way to protect your investment! I have a
Timbuk2 shoulder bag (doesn’t look like a laptop bag), and a
Boblbee Megalopolis hard shell bag. The Boblbee has taken and saved my equipment from California to Cambodia. It wares very well, though I recommend getting an executive version, not a sport version. Sign up for e-updates and they usually have some sort of bag on sale. My TimBuk2 bag is the best. It's made of waxed canvas, and it gets better with age. I have had both bags about 8 years now. The TimBuk2 gets daily use.
Axio also makes a respectable hard shell. Their HardSleeve isn’t bullet proof, but it is a good, but expensive sleeve. At the very least, get a good laptop sleeve. Everybody has their favorites, but I recomend searching the forums for advice, and asking questions of the people that have strong opinions as to why the case/bag they have is the best for them.
Re: AppleCare
For me it has always paid for it's self. You have a year to add it. Others may steer you the opposite way, it's up to you. If you want to cover damages caused by accidents, then look into an add-on to your parent’s homeowners insurance, getting renters-insurance with a low deductible, or getting special insurance to cover just your laptop. I ended up adding renters insurance with $200 deductible (low) with a 10k cap, and no special rider to cover my valuables for about 90$. Of course, use it once and nobody will ever give you a reasonable rate again. In the end, it comes down to what are you willing to (or can) pay for peace of mind. Some people don't need it, and while AppleCare has been fantastic for me, it hasn't been great for everybody.