There was a time when two-year community colleges were not eligible to obtain an EDU domain name. I was working at a fairly large technical college at the time and it hurt our marketing efforts. There were a lot of regents schools at the time and I personally believe that lead to the stigma that we were not a real college. This also led to us not being able to innovate with the advances in educational technology
This changed in around 2004 and community colleges were able to get an EDU. This helped with our marketing efforts since we were able to build a brand as a college and not just a trade school. Colleges and Universities have only ever been able to have a single EDU domain and this has caused some issues. You really need to be able to show flasher content to your potential students while maintaining a collegiate look to the main domain. You can do this with subdomains, but that is not as easy to brand and have potential prospects remember.
Educause is now proposing a new rule that will allow colleges and universities to obtain a second domain name as long as the domain represents the entire college. I’m sure this will be welcomed news to the many publicity departments in colleges and universities around the country.