You see 'limitations' because you're approaching the iPad as if it's a gimped x86 machine. You need to change the way you're working, then many of those 'limitations' magically disappear.
I think the number one problem of changing the way you work is when the people around you don't. For example, Google apps can be a pain to use on iOS (even the iPad apps can't hold a candle to their desktop equivalents). Forget about trying to create Google forms or install add-ons. A poster makes a valid point for sharing of files via USB flash drives. Passing large files to your classmates can be cumbersome if they don't have Macs (airdrop) or a 3rd party app like Instashare and you don't want to burn a bunch of data.
You can access flash website via puffin and download files using Documents.
If everyone else is still on a laptop, it can be troublesome if they have to make concessions to suit your iPads, or you are forced to turn your iPad into a gimped laptop just to cater to them.
I think your biggest challenge would be typing documents. Might want to give it a try first and type a sample essay with citations and all to see if it is doable. Once term time starts, things can get pretty frantic and I don't turn you want to deal with any sudden limitations and hiccups as well.