Can't resist chiming in here. I've been riding for 40 years now and been down a couple of times. I've had everything from a 125 to a 1300 FJR (really GREAT bike)- never had a scooter because I consider them dangerous! You've got the right idea wanting to have good gear, but I haven't seen you say anything about comfort- if it's not comfortable and convenient, you won't use it. Are you really going to want to spend the whole day, every day walking around campus and sitting in class wearing protective riding pants? And in your climate they're probably going to start to stink pretty quick, too. I'd suggest a couple pair of Draggin Jeans or similar.
It's Kevlar Mesh(armor pads are perforated), so without the liners, it would be more ventilated than the Fieldsheer with vents(though honestly, that Fieldsheer jacket looks more stylish, I wouldn't be embarrassed at all to be sitting in class with the thing). Same situation with the pants, I could either wear pants without liner, or perhaps wear just the liners underneath(not sure how comfortable that material is against bare skin).
Though their product feature seems to bring it up:
Hydrophilic Nylon Mesh Lining on the inside. The Hydrophilic Lining wicks away sweat and makes the liner more comfortable, even when worn directly against the skin.
I suppose it might stink if I wear it 4 days in a row, but I hardly ever notice my own stink when wearing the same work shirt 5 days out of the week while lifting 40 lbs boxes all throughout the shift

. I'm sure my deodorant would be tested, but I'm not too sure I care.
Something I'm surprised no one else has mentioned- maneuverability is one of your biggest safety factors and acceleration is a big part of that, with the load out you mentioned you're not going to have any on a cheap 125. I would suggest getting a 250 motorcycle, even if you have to buy used- you get bigger wheels and tires (better traction turning, braking, and overcoming road irregularities), more power (for safety and pleasure), and better visibility. If you're really set on a scooter, get the most power you can- as concerned as you are about safety, overloading a small scooter and then expecting it to go up a hill is not being safety conscious! Besides the power deficit, you're also overloading the chassis, suspension, tires, and brakes! Having done this, I can tell you, it does not make for fun or peace of mind, and can be pretty scary and uncomfortable.
I sincerely hope $1,900 is not "cheap"

. It's Taiwanese and not Chinese. Kymco was recommended to me for being built like a brick s***house. I'd personally want to sink in a little more for a Honda Rebel, but I don't believe a cargo case is available for that.
I was considering sinking in a little more for a Honda PCX150, though it may be besides the point since that's also heavier, and I don't know if you get more horsepower out of it(no available info on their site specs) for the slightly higher 153cc. Lastly, if I want to sell it later down the road, it might be more difficult as locals tend to ride scooters for convenience, and would probably want a Kawasaki for the same price as that thing.
Also, while I like the sporty look of those modern motorcycles, I figure the top heavy design might be an issue for me in terms of control and stability. I also like the fuel efficiency of that Rebel.
Though for a first 2-wheeler, I have to seriously wonder if the Rebel would be the way to go? Not sure about the chances of getting into an accident for the first time, but I just thought a $1,900 scooter might be a good way to pick up on good driving skills(which may not apply to the different chassis and overall design of the Rebel) and habits, before bumping up to something more substantial. On the other hand, if external cargo is easily available for it at the dealer(just found something from JCWhitney), it has substantial power and safety that I wouldn't feel the urge to upgrade further(to the Honda Forza I originally wanted).
First motorbike, likely to crash or no?
Honestly though, this is for a 5 mile commute. I kind of like the fact that the Kymco can be parked right up to a bike rack(typically) with no legal issues. The Rebel is a 331 lbs cruiser that still needs to be locked to something solid to be secure, but I don't recall the last time I've seen a motorcycle locked in such a manner, and if it would technically be legal to do so.
Lastly, I'm sure my mom will raise a total b**chstorm if I drop the bomb that I'm planning to spend twice as much as I lead her on to believe. After all, total cost(of gear too) would run up to about $6,000. Which is the same price as the Honda Forza I originally wanted

. I could certainly afford to pay it all in full(and prefer to do so). She just wants me to put more into furniture and other items for our new place, whereas I'm more concerned about my devolving situation at work, and how I need to save a bit more on time in order to go to work for 32+ hours and keep up my 4.0 GPA with school.
Lastly, as was mentioned, the best safety gear is that thing between your ears! Nothing protects you enough to want to go down. I heartily second Mr. Hough's Proficient Motorcycling as being the best safety investment you can make (along with classes). Good luck and have fun!
Thanks!