Starting first quarter of 2013, Microsoft will be offering Office 365 University for just $79.99 for a four-year subscription ($1.67/month) and eligible students that buy Office University 2010 or Office University for Mac 2011 today will receive a FREE subscription to Office 365 University when it becomes available.

Microsoft Office 365 University gives students access to all the standard Office products, including Word, PowerPoint, Excel, OneNote, Outlook, Publisher and Access. Microsoft also stores your digital notes from touch, pen or keyboard in OneNote and keeps them handy in the cloud and across multiple devices. Subscription also includes 20GB of additional Skydrive storage (27GB total), 60 Skype world minutes every month, use on demanded the latest version of the software without the need to upgrade and installs on two computers.