It really depends upon what you plan on using the computer for. Seeing as I can't even find the DV7e on the HP website, I'm not sure what the specs are, but I looked at the dv7t series notebook line and for general internet surfing, email, social networking, and media viewing, the DV7t looks like it would work just fine. Depending on the Graphics processor, the DV7e may or may not be very suitable for newer games, but should be able to play older classics like Warcraft or Halo just fine.
In terms of school use, most computers on the market should be able to handle Microsoft Office easily as well as most other generalized productivity suites and programs.