Wow thanks everyone for the input. I am now really leaning towards just staying with the base 2.4/8gb/256gb model and investing in Applecare rather than upgrading the RAM/CPU.
I will be using it for basic college student requirements and necessities such as word, excel, powerpoint as well as social media, web browsing, streaming movies etc. Although I feel that the 2.4 GHz with 8 GB would be plenty for me, I'm just worried about the RAM being enough for future OS updates and I might consider installing Win 7 as well.
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I'm just thinking that if I'm going to be spending around $1,500 for a Mac, why not invest just a little bit more to get the best config if there would be any real benefits from those upgrades.