It’s almost impossible to beat the deals that colleges and universities can get you. Take their offer.
Your statement is probably misinformed. I do not know the specifications on the laptop so I cannot sure in my analysis. You can buy a powerful laptop for $400 to $700. The prices that the college quotes seem rather dated. For example, you can purchase a laptop with dual core (Intel or AMD processors), 4GB RAM, 64 bit Vista Home Premium, 15.4 inch screen, 320GB disk, rewritable DVD, HDMI port, media reader port, and built in web cam for under $600 (perhaps even under $500).