One aspect of dorming is that you will find use for many things you never thought possible. At first sight you may not know what to do with this ovular dorm furniture. From my experiences, the most common use is dorm seating. You invited some friends over and don't have enough seats, so you pull out this backup seating and kickback. Secondly, their will be many times when you wish you had a footrest during college. This "ottoman" aka footrest will come in handy.
Beyond seating, you could elevate a laptop when working on school work. This can allow you to work much faster and more comfortably. Even when you are not using this foam furniture, you can still place stuff on top of it. Meaning you lose no real storage space. With dorm seating the motto "better safe than sorry" applies.