For a student? Ha, If you can afford it then absolutely 100% purchase AC+ for a student including the accidental damage coverage. For anyone who can remember the student days, drops, bangs, lost etc are always just waiting to happen. It’s part of high stress, fast paced, sleep lacking on the go student life. And pay the monthly for iCloud+ to backup all files. Do not leave backups solely to a personal external drive. Speaking for myself, in those days there’d be times I’d have forgotten my head if it wasn’t attached.
Credit card extended warranty on my AmEx is nice. I use it for TV purchases and even my personal laptop. But the process is too slow and procedural for critical items like your only smartphone or a laptop critical for day to day.