Dixie, Microsoft has a small program to download in your laptop to check it to see it is capable to run Windows 7. I have done it before upgraded my computer from Windows Ulimate 64 to Windows 7 Pro 64. If the program find it is not capable, go ahead to purchase new laptop. But I strongly recommanded new laptop with Windows 7 Pro. Windows 7 Pro is all you need for college works.
By way, Microsoft offers a student discount on Windows 7 Home or Professional for just $30 (will end in January 2010). I got my Windows 7 Pro for $30 (plus extra charges for backup disc) from Microsoft. I am not kidding.