I was looking at cheap transportation for quite some time, I looked the cost of buying a really cheap Geo or Civic, but most were over $1000, and only got 35mpg or so. That's good, but add in the cost of inspection and insurance and I was quickly not saving a dime.
As much as I wish I lived close enough to school to ride bike, I don't. I'm also not good enough with waking up to be able to wake up 2 hours before my first class.
Scooters made sense because of the awesome gas mileage and no need for a motorcycle license. However, you still need insurance and you still need to get them inspected. In Pennsylvania, we have a motorcycle permit. Really easy to get an allows to ride as much as you want with a helmet, during the day, and without a passenger.
Scooters, especially those under 50cc are really sucky on speed. In order for me to use one to get to school, I'd need cross a rather large hill, or else take a 5 mile detour. Plus, all of the roads that I'd travel on are higher than 45mph that most 50cc or even older 80cc Scooter's can achieve.
In my case, it made more sense to buy a sub-$400 motorcycle that needs a little bit of work but can be ridden anywhere without the fear of being ran over. This price was cheaper than most scooter I found for sale, and while the motorcycle may only get 40mpg, the overall savings elsewhere would pay for themselves.