I think Neither.
For the 1000+ that you will be spending on a computer, you could get a PC with at least 3 times as much power. The
iMac will probably last you longer, but in a college setting I would much prefer a laptop. So out of those 2 I would choose the Macbook, but a PC laptop with a comparable price would give you much more "bang for your buck".
Take this for example:
http://store.apple.com/us/configure/MC723LL/A?select=select&product=MC723LL%2FA&mco=MjEyOTY4OTQ $2000!
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=19194&CatId=4939
Much more powerful and is only 1400, saved 600 dollars to spend on other stuff.