I'm the expert on Bilbao (at least in my own mind).
All three of those areas you named are cities (probably more like boroughs). San Inazio (Ignacio) is on the east side of the Nervión, which divides the "city" of Bilbao in two. Las Arenas, which is a nicer part of metropolitan Bilbao is also on the east bank of the Nervión. Deusto is the location of the University. Getxo is on the east bank as well.
Traditionally, the suburbs or boroughs on the east bank (Las Arenas, Algorta, etc.) have been more white-collar, and those on the west (Barakaldo, Sestao, Portugalete) have been working-class neighborhoods. As a matter of fact, most of the political unrest usually comes to a head in Portugalete. With the closing of the Altos Hornos de Vizcaya steel mill, those distinctions are slowly morphing, but still evident.
You also have what is downtown Bilbao where things can get interesting, especially around the San Francisco area (ETA/HB and the drug culture have a visible presence there). Matiko is a blue-collar barrio, and Begoña is a little more middle class, but still Bilbao.
The trains have changed somewhat, but the distinction we made years ago was that the "white trains" (ET/FV) where north/south along the east bank (white collar), and the "blue trains" were north/south along the west bank (blue collar). The blue trains have been replaced by Renfe Cercanias, but there is still a visible difference in affluence between the banks. As you move away from San Inazio and Getxo, you get on towards the nicer parts of town.
Enjoy the studies at the university!