Microsoft have just announced the different feature levels and costs for Office 365 for Education.
Office 365 for Education is based around the Office365 Enterprise but has different levels of features allowing you to pick and pay for what you a looking for. You can still get some features for free or students still get features for free based on you paying for staff.
|Office Professional Client Applications||n/a||n/a||Available||Available|
|Access & Excel Services||n/a||n/a||Available||Available|
|Office Web Applications||n/a||Available||Available||Available|
Office Web Apps are in the table are not the Office Web Apps currently available in SkyDrive. These are the Office Web Apps available through SharePoint 2010.
|Student||Free||Free||$ 2||$ 5|
|Staff||$ 6||$ 10||$ 14||$ 17|
Cost is around per user per month