Welcome to the site Alicia.
For a vehicle with 56,000, I don't think that's too bad a price. I think the dealer is and will be willing to work with you because of the fact that there are so many Explorers out there. Because of the volume, you can get them at a decent price nowadays because dealers know it's just as easy for you to go somewhere else and find just as good as, if not a better deal.
As far as a college vehicle goes, I'd say it will do you well. It's great for loading up all of your belongings and taking them with you and on the highway you'll do well with gas mileage, especially if it's a V6. If you find a '97 or up Explorer with a SOHC V6, I'd go for that. It has more power and gets better gas mileage. No matter what, trying to stick with low mileage vehicles, less likelihood of picking up a lemon.
No matter what, it may be worth the expense of having a reliable, independent mechanic check the vehicle out and make sure it is in good running order. Make sure that the vehicle’s Generic Electronic Module (GEM) is upgraded or has been replaced. The notorious wiper problem is prevalent with Explorers and it results from a malfunction with the GEM. It’s not a serious problem that will result in any damage or adverse effects, but it can be a nuisance and it will cost some money if you were to replace it after you purchase the vehicle.
You may also want to ask if the multifunction switch has been replaced or upgraded. They usually replace this with the GEM in order to correct the wiper issue. It’s Ford’s way of killing two birds with one stone in case one of either are the source for the wiper problem. (The “wiper problem” is that the windshield wipers tend to come on randomly or, when they are on, they function at random with little reference to what speed you are attempting to have them wipe. During rain, you have to move the switch if they fail to wipe in order to actuate the wiping function. Like I said, it's more a nuisance than a real concern, but it is something you more than likely do not want to contend with on your own.) The wiper problem was a recall on 98+ (maybe just ‘99+) Explorers, but all model years appear to have the issue.
If you end up looking at an Explorer with the SOHC engine, check to find out if the timing tension has been fixed or upgraded. This was actually a recall, but you don’t want to rely on the previous owner or the dealer taking the initiative to have the problem fixed.
Be sure to have the transmission checked. This is the one noted weakness of the Explorer, but it is my belief that so long as it is maintained properly, the transmissions in the Explorer will last as long as any other vehcile. I’ve heard of members who replaced them at just over 70,000 miles while I have over 123,000 miles on my ’96 and have yet to replace or fix any transmission problems. It is running well and will eventually need service in the future, but that will only be a result of how I use (off road driving isn’t the best on tranny’s) and maintain it.
Dollar for dollar, the Explorer is one of the best SUV’s available. So long as it is maintained properly, it will last you longer than most vehicles. I’ve heard of the 4.0L OHV engine that many Explorers have go up to 500,000 original miles with no real work performed. My old boss had an all-original ’91 with 230,000 miles without a problem (tranny and engine). She traded it in for a new 2001 a little while back and was pleased with both vehicles. She had trouble justifying a new Explorer simply because she didn’t have any problems with the one she had.
So, have it checked out, take it to an independent mechanic to have everything checked out, and take care of it and you will be surprised with how well it lasts you.
Good luck with your purchase and welcome again to the site! Good job as well for doing your homework on the Explorer and coming here to ask questions. Not too many freshman college students would have the good sense to be such a smart consumer and educate themselves on something like this. Heck, not too many adults take the time to look before they leap!
Take care and happy postin’!
~Tim