It's fast, convient, impartial, and free of charge. Mediations can usually be held within a week, before things escalate and get worse or more complicated. It focuses on problem-solving rather than on placing blame and, thus, helps disputants steer clear of unproductive struggle. All parties are empowered since all have a chance to discuss their viewpoints in a non-judgemental environment. There is little risk.
Agreements are voluntary.
In the case of an impasse, all other appropriate options, like those offered by the campus judicial system and the court system, are still available.