Cycling is very strong in Lancaster Montage. I used to attend a bi-annual event hosted at St Martins College but owing to legislation, insurance costs and other things, it was disbanded in the early 2000s. There are cycle rescue places, cycle charities etc. Cycling around Lancaster is great. There are a few really good (I mean tough) climbs in the city itself, there is a great cycle track that leads past the Salt Aire track out towards Morecambe, which has an improved reputation nowadays, although there's probably no night life for you students, it's still quaint and retro.
You can get on a train and go up to the lakes with your bike. All in all you're not really far to have a good ride out in the nearest hills, if you're used to mileage, which I presume you are, as you were asking about TT courses.
Go for it! & good luck with the course, which is just the sort of thing I wish I'd done years ago!