Well in theory yes but the learning curve can be quite steep as is intergrating it with your everyday tasks. Unless you really want to write by hand or have previous experience it may be easier just to type or record the lectures using the internal mic and Quicktime.
If you are doing an art course and will be using it for creative tasks as well then it could be useful but don't rush into it. To the best of my knowledge the TiBook was never offered with BT so you will be running it through a USB adaptor, for this reason it may be easier just to get a cabled tablet instead which will either allow you to get a higher spec model or save some money. Batteries, even rechargeables, all add to the cost.