These are off-brand machines with extremely low end cpus. I would expect zero warranty support and extreme cost cutting measures everywhere. I would suggest taking a look at some of the better known brands and what they offer in this price point. Lenovo has the IdeaPad 1 line with several machines around this price point, I'm sure some of the others do as well.
But to answer your question: the 16" has a newer and much faster CPU, more memory, and a better display ratio (this one is somewhat preference but I really like 16:10 on laptops).
What kind of degree are you pursuing? I'm an ECE and went through college a while ago with a convertible laptop (the screen turned around and flipped over to become a tablet). These days days they're marketed as 2-in-1 laptops.
I took all my notes on that thing, did all my homework/projects/labs, etc. It was great to be 100% digital.
As far as laptops go, I'll echo buying used. You can find 2-4 year old off leanse enterprise laptops all day for under $500 on places like eBay. Enterprise laptops tend to be well built and are usually, but not always, upgradeable in terms of storage/memory. Budget laptops, even from name brands, aren't always as durable.