On a large multi user system like that at the University of Kent, each user is given their own area on a central server. This is sometimes referred to as a home folder.
Found in the Users folder, the home folder is your personal space in OS X v.10.3. Files stored here are secure from other user accounts. Your home folder is listed as your domain account username.
On a large multi- user system, each user is given their "own" area on a central server. This is sometimes referred to as that user's home folder.