In general, higher octane fuels like 97 are used for cars with higher performance engines but it is not wrong for a casual car like a Corolla to use it.

You should avoid using fuel with an octane number that is lower than what your engine is built for, as this will result in “knocking”. Knocking occurs when the fuel detonates in the engine combustion chamber before it is supposed to, resulting in poor performance and may even ruin the engine.

A ruined engine will obviously shorten the car's lifespan and will burn a hole through your pockets due to maintenance and repairs. Hence, it may be a bit more expensive to get 97 compared to 95, but take it as an investment for the long term. That few cents could save your back from thousands of dollars just to keep your car running in the future.