Yes, it's expensive.
Yes, it's necessary.
The faculty and staff don't make any money off these sales.
We wouldn't require it if it wasn't necessary for the course.
No, cheaper 'alternatives' won't work, or won't work as well.
You go cheap, you buy problems.
Buy the recommended models and you'll have fewer problems.
I have had good experiences with Western Digital hard drives. My own external drive is a WD Elements SE 1 TB ($80 at Amazon), which is powered from its USB 2.0 connection. It plays back true HD video without dropping frames. The drawstring bag is completely inadequate, spend the $20 or so for a good hard case for your drive. Do NOT buy a hard drive that has a separate power supply! You will get very tired of dragging the extra weight and wires around, and especially annoyed at not being able to work from a laptop running on batteries. USB power only! 500GB is the minimum, more is always better.
You need around-the-ear isolation headphones. Earbuds won't do it for editing. The industry standard is the Sony MDR-7506, whether for studio or field work. Ask any working pro, these cans are an incredible value at $100. People use them for so long, Sony sells replacement pads for when the originals wear out. Don't fall for a similar model number, get the MDR-7506 exactly.
A very good tripod substitute is the UltraPod, made by Pedco and available from many vendors including Amazon.com for around $15. You can use the tripod by itself on a tabletop or other surface. You can use the velcro strap to fasten the closed tripod to a stick or other object. You can use the V-leg to stabilize the tripod on an edge such as a car window. If you want to try one of these out, I have my own UltraPod in the lab, just ask to see it. More information here:
http://www.pedcopods.com/specsup1.htm
For a laptop computer, the minimum standards are just that, the absolute minimum that will work (sort of). When editing HD footage, the computer has to work VERY hard - it's pretty much the toughest job for a computer. You need the fastest processor you can afford, and multi-core really does help speed up the processing. You need 8GB or more of RAM - 4GB is barely adequate and slows things down. You need 500GB or more of hard drive space, or you will need an external hard drive; HD footage fills up a drive very quickly. You need the largest screen resolution you can afford: 1920x1080 is the resolution of the High Definition video frame, and if you can't see it all at one time, it will be more fuss and bother for you, especially when you are checking for sharp focus.
The lab cameras record full High Definition (HD) video at 1920x1080i resolution. A lower-resolution form of HD is 1280x720p. Anything below this is not really usable HD. Any frame rate below 30 frames per second (fps) is not really usable, either. Your backup personal camera should be small enough to carry everywhere with you, but capable of shooting HD video at 30 fps. Some smartphones can do this; some point-and-shoot digital cameras can do this; and the now-discontinued FlipHD line of cameras was designed specifically to do this. Read the manual, check the specifications, and make sure of the camera's capabilities before you buy. Any questions, ask me.
If you will be using a smartphone as your camera, you should also buy a compatible phone tripod adapter.
It's a VERY good idea to get a gear bag that will hold and protect (padding is good) all your gear while leaving your hands free.
