Your performance makes a huge impact in Episode 2. If you choose to help
this ticking timebomb...
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...then Cathy's subsequent dialogue is different.
If you've passed more classes than failed:
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If you've failed more classes than passed:
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Of course, I'm kidding about the "huge impact" thing. You can fail every one of your classes, and Cathy will still say this in the cafeteria later in the episode:
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Also, because the tests themselves are optional mini-games, and there are no alternate ways to "win" them (unlike tennis and such, where you're given choices of forehand, smash, etc.), I can't imagine they would have any impact on MC's college career. The only effect I would say is slight changes to dialogue, as above.