Two hours each way is going to be a slog. It'll mean early starts and getting in late on some days. You'll also be increasingly knackered and fed up with it which may affect both your academics and personal life. People with long journeys also tend to be inclined to skip the odd lecture if it saves a trip.
As above, there's also practicalities like whether there's any parking within a feasible distance.
I commuted between 45-60 mins each way. I didn't feel like I missed out much as I had social groups in and out off uni, but everyones experience is different.
It might be worth contacting the uni and finding out what days you'll actually be in, or asking for an example year 1 timetable. Best case, you might only need to go in 2-3 days a week, but worst case it could be everyday.