Hey there - I'm a college student and I can tell you that my betta is a traveling fiend! He travels between school and home at least 4 times a year (fall break, spring break, winter break, and summer) and has been fine every time. At first I took him out of his tank and put him in a cup in the cup holder, but then I decided to just drain 2/3 the water from his 2.5 gal and leave him in there, and then buckle his little tank in my passenger seat. It's about a 2.5 hour trip, and he's totally fine. Not too stressed, and active the entire time. I think it actually stresses him out less being in his tank when we travel - but I'm sure every betta is different. He also came with me to Florida this summer (about a 22 hr drive) and made it the whole way as well - including a stop in a hotel. For this I put his cup in one of those styrofoam coolers to keep his temp more stable. But anyways - they are resilient critters, and as long as you take the time to be careful - he'll be just fine.
As for time when you are at school - bettas don't need enough care to make your studies suffer, but they do provide a solution when you need something constructive to do in order validate your decision to procrastinate. ;)
Also, I tend to think that heater (the tetra one) is absolute crap. I've had 3 and they have all pooped out on me. I suggest the hydor theo 25 watt, that's what I have in my aqueon 2.5 gal and I LOVE it. Nice and adjustable, and actually works.