I think Office on tablets is an amazing preposition and makes a consumer device that much more useful.
I've played around with the Surface 3 Pro a bit as there are some at work which people are using but it feels a bit fragile to me for day to day use as a laptop replacement especially for a uni student. If you need the stylus though or the full fledged Windows experience, it's a pretty good combination as long as you don't mind the price.
I'd bet that an iPad (yes I'm an Apple fan) has now become a much better tool for a university student particularly as there are so many discounts available (educational discount on both the iPad and Microsoft Office 365). I'd even go as far to say that if a student had a desktop or old laptop at home which wasn't particularly great for bringing to uni whether due to battery life, weight/portability, etc..., I'd say my iPad with portable keyboard would be a perfect fit for a Commerce student (or any other faculty which doesn't require a lot of drawing/equations).
FYI I'm using a Logitech K480 keyboard which is a bit on the heavy side at 800g but it sits on my desk at work and I carry it as needed, and can flick the switch on the left to choose between my work laptop (which is in a stand), my iPad which is usually in front of me and my iPhone (the last one was just to make use of the three Bluetooth slots).
For Christmas I bought my gf an iPad Air 2 and the Logitech Type+ keyboard case which is heaps lighter, but then on the other hand, isn't as flexible as an actual external keyboard which I can move around or leave behind if I want (or connect to multiple devices).