I have an eee pc from 2009 (I think) and have been really happy with it for my minimal needs. I don't use it daily, but it does have good battery life, even now. If you plan to use the netbook for simple word processing or reading, I think it should work fine. I did upgrade to 2GB of ram and to windows 7 home premium.
If it is going to be your only computer for school, I would also recommend investing in a larger monitor and a separate keyboard (and a mouse) to use at your desk - it's a matter of seconds to plug these in...and having a large monitor to work from (and a full sized keyboard) when you can will make you much more productive and much less frustrated.