What's more, you can likely (depends on country etc) use Office desktop apps and your OneDrive storage on any supported device, including native apps on Android-supporting Chromebooks, for free as long as you have your student ID, as part of their Office 365 for Education programme -- see my other comment (works for teachers too).

They're really competing hard in this space, and I suspect they're trying to get ahead of Google One here. They've already left Dropbox far behind.