> There is also the factor of "crap, I somehow missed a payment and now I can't complete my coursework" when colleges are busy trying to get rid of computer labs because "everyone has a laptop".

Assuming you're doing most of your work in Google Docs, this wouldn't be a problem. ChromeOS is really just a fancier thin-client, after all.

In fact, for a lot of forgetful/irresponsible students, having their data in Google's cloud is a good way to save their asses from data loss/device theft.