I'm happy that Demo solved your question. I had read it and waited until my younger son got home to ask him a few questions. I figure the more opinions you have, the better. And Demo has the right idea that you should buy your ipad with the most storage you can afford. That tends to be the general concensus in responses to this question.
Our son got his ipad 2 64 gb before as he started his junior year in college this past year. At first, he quickly loaded it with music, a few movies, tv shows, apps, etc. It came to over 22 gbs. After his junior year he has used over 50 gb. He said the books do not take up much space, but the tv shows do and if he needs to, he can delete them. So it can add up fast. You want to record (video and audio?) it adds up. It will add up more quickly than simply taking photos. You might have to buy newspapers (or be given for free through your university) and they add up if not deleted periodically. Engineering projects take up space. Others might say you don't need to go too big because you can store things in the cloud. (We haven't done that here, so no opinion to offer.)
Like Demo, our son has no idea about recording, but as Demo said,it will add up. Movies eat up the battery more quickly, so that might be an indication that your recordings will take up more space.
So we suggest you consider the 64gb, and if you can easily afford it, and want to, consider the128 gb. (Personally, for me, the more it costs, the more I'd worry about it.)
And FYI, at least in the USA, most colleges have wifi throughout campus, so you might not need it too often on campus. But if you can afford it, the cellular will ensure constant connectivity to the internet anywhere! And because you aren't too familiar with cellular, depending on where you live and go to school, you will pick a carrier (often the carrier for your cell phone.) And when you are out of wifi range, your phone carrier will charge you, so you might want to do some comparison shopping.
It's great that you have Netflix.
Oh. Please be sure to buy a good strong case for your ipad.
Reseach independent reviews (esp. re storgage given the price,) and don't hurry to make a decision until you're sure.
Whatever you decide, enjoy your ipad and your years at university!