Christien, apparently the car has a turbocharged 3.0.
Katie, a "turbo" utilizes the exhaust gas to spin the turbine, more info here:
http://auto.howstuffworks.com/turbo.htm
There are more issue to be discussed regarding the car, but I'll leave the details to more knowledgeable people. One thing I want to say though, as another university student, is that you probably don't want to spend all that money and then borrow some for a car. After all, you already drive a 911, and it's gonna cost more than you expect to keep it on the road. Ask me how I know, aside from the running cost, things break, wear out, need replacing, and then you just want to "upgrade"... Not easy unless you have a 9 to 5 job with something above minimum wage.
Again, I have no idea what your situation is like, and maybe this is just "I wish I had this car" moment that (I'm sure) all of us have at some point. I want a mid year coupe with built 3.0 for a 3.0 RS replica
Good luck.
[edit] Looks like Dan's got most of what I was going to say covered! [/edit]