You must hold a valid email address at a U.S. educational institution ending in .edu (for example, leina@contoso.univeristy.edu) AND be actively enrolled with at least 0.5 course load. Also, you must be able to provide proof of enrollment status (ie, student card) upon request by Microsoft. If you are unable to provide proof of enrollment, you will be required to pay the full retail price of Office Ultimate 2007 (approximate ERP $679USD).

This is a great deal for any student in the US and Microsoft also offers this to other markets. If you don’t have that kind of cash, there is still OpenOffice and IBM has also released Symphony to the public for free.