As a film student, you will want to save all you video. You will want the camcorder to have an external mic jack and you will want manual audio control.
The reason "many industry people will tell you their preference" is because they probably learned the hard way and are sharing their knowledge with you. If you want to learn the hard way, then you are doing the right thing by not listening to them. If you want to use their experience, then listen to what they say.
The only camcorders that meet all three of these requirements - mic jack, manual audio control, affordable storage - will be miniDV tape based. Check with the film school instructors on their recommendations...
There will be a mix of standard definition or high definition camcorders (that can also do standard def). Set a budget. "Moderate" means different things to different people.
The least expensive camcorder is the Canon HV40. Next up is the Canon GL2... then Sony HVR-HD1000 (but it is a shoulder mount)... then the Sony HVR-A1U... Sony HDR-FX7, Panasonic AG-DVX100B, Sony HDR-FX1000... and they get more expensive from here...
For "real" documentaries and shorts or features, the MINIMUM will be something more like the Sony HVR-Z1U or Canon XHA1 or Panasonic AG-HVX200. More commonly, higher end pro camcorders with XLR audio-in connections and larger lenses and imaging chips are used.
You will also want to budget for:
high capacity rechargeable batteries (from the camcorder manufacturer)
mics (shotgun, wireless lav - Sennheiser, Shure, Audio Technica)
Tripod (Bogen-Mafrotto, Libec) or other steadying device like a camera crane (Kessler) or Glide-cam or SteadiCam device or a dolly system
Video lights (NRG Research, Bescor)
Cases (Pelican, SKB)
There's a LOT more, but this is a start - the camera is only part of the system - speaking of which, what are you planning to edit with (computer video editing application) and on (computer hardware)?
Hard disc drive camcorders are not recommended because of their known problems with vibration and high altitude. They also can be a challenge when the hard drive crashes and you have not transferred the video - open your wallet wide for data recovery services like DriveSavers. MiniDV tape and Flash memory camcorders do not share the altitude and vibration problems.
Consumer grade HDD and flash memory camcorders save to the same very highly compressed video file type. MiniDV saves to a much less compressed video file. While it is true that copying the files over USB with HDD and flash memory is less time than MiniDV tape, there is an extra step to create the video archive files for HDD and flash memory. With miniDV tape, the archive is the tape. Just don't re-use the tape.
Pro and prosumer grade flash memory camcorders save to DV and HDV - just like miniDV tape. Check the Sony HVR-Z7 and Panasonic AG-HVX200. There is no such thing as a pro or prosumer grade camcorder with an internal hard drive - but there are externals available from Sony and Focus Enhancements (FireStore) that save to DV/HDV. There are a couple of Panasonic AVCAM AVCHD flash memory camcorders - but I have yet to see any real pros use them. At least they don't compress as much as the consumer HDD and flash memory cams do.
If you decide to go with a higher-end consumer cam that does not have manual audio control, then expect to add an audio "field recorder" to your kit. Zoom, Edirol, Tascam Sony (professional), Marantz and lots of others make them...
Good luck!