A domain name for yourself is your own personal space. You can express yourself however you want and design it to fit your needs. You control every thing on it. It can also be a way to brand yourself.
A student or faculty member would have their own domain name for personal or professional use. Many professors have their own domain name for their course work or for their practices outside of the university. They use it for professional work. Many students may have their own domain name for school purposes. They may also have their own businesses or in the works of creating one.
I will create a domain name using my own name (Christinaragin.com). My website would be filled with powerful daily quotes, relationship advice and personal blogs. I also love the media and watching reality shows, so I would post my opinion on certain shows and articles. Fashion will be another big thing on my personal website. I went to high school for fashion design but one day, I would love to report about it.