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It has an i5, 6GB of RAM, 750GB HD, WiFi, and of course a DVD Burner. This was in all a $600 laptop. With a 2 year warranty and a slew of extras it ended up being shy of $1,000. This is a very good laptop. While it doesn't compare to my main computer that I am on now it is more than enough for any college student.
With more memory, you will be able to run more apps simultaneously on your laptop. Typically, in case of a Laptop, you can pick between 2GB to 32GB of RAM. To simplify your choosing, here is a straight forward guide to help you decide how much RAM do you need for your laptop.