Office 365 offers students larger quotas and storage limits.
Email Quota: 50gb quota. Individual attachments on messages are limited to 25mb per message. To check your quota usage, see http://its.uiowa.edu/support/article/102492
Sites Quota: 1gb per user per site (does not include OneDrive for Business)
OneDrive for Business Quota: 1 Terabyte total storage quota. 2gb file size limit for uploading/saving To check your quota usage, see http://its.uiowa.edu/support/article/101408