"Good. A simple health potion may seem like not much to some, but it can be crucial in combat and after if there is no cleric present. Additionally, potion making takes no innate power, just focus and meticulous attention, so even with ourselves cut off from our spell slots in this rather odd place, we can still make and imbibe potions. The larger concern then becomes component cost, which is usually why one does not craft their own potions. EXP cost also, to be honest, but we are not creating epic level potions, so there is no cause for concern over that at present. As to the fiscal cost, one should take advantage of class work as much as possible, as the school is providing the material components."

TL;DNR? you're making a red potion, Link.