Yes, I know. Here's the thing - if it's overheating a lot, something is broken. If you don't get it fixed now, it will only get worse. And once your year is up, Compaq will ASSRAPE YOU on the repair bill.
Did you get it from a store? Like Best Buy? Talk to them, maybe they can do you a loaner or SOMETHING while yours is being serviced. Or use the machines at the public lab for a week - these things don't take forever you know. You gain NOTHING by putting it off, and stand to lose the entire laptop.
Trust me on this - my brother overheated his laptop recently, it was out of warranty. Lost a memory slot. Dell wanted HUNDREDS to fix it, and in the end it was simpler to just write off the memory slot and get a bigger stick of RAM for the other slot. Of course it WILL eventually get worse.
It's like a car - I know people hate computer/car analogies, but let's be reasonable here. If your car is overheating you don't "keep using it because I need it to get to school". You take it to the shop and hitch a ride for a few days.