Looks fun :) I send my sims to a residential dorm, but they also allow a couple roommates. Roommates are often quite helpful, because (if traits are good) they repair broken stuff quickly. With just 2 roommates it doesn't feel overwhelming if one of them bring in food either. I alsop appreciate that my students build skills like cooking, handiness and gardening aside of their studies. Most of my students have plenty cash though, so the higher bills are no problem.
Looks like you focus a bit more on the tougher sides of being a student away from home, will be more of a challenge and probably more fun than the way I do it ;)