Thanks guys, I have a .edu address, is that all I need?
For the free copy, you will need to contact the school's administrator who manages the MSDNAA account licenses for your particular school. From there, you will be given account credentials to access Microsoft's website that will give you a product key and ISO to download.
As for the paid copy, all you need is a .edu address. Be sure to select "Download only" copy for the cheaper price. Kind of a shame the $30 promotion wasn't kept.
Because this is the upgrade copy, you will be required to do either of the following of your choice after the full installation:
1. Edit registry to activate.
2. Double install to activate.
If you choose to edit the registry, you'll need to do the following: http://www.maximumpc.com/article/howtos/how_use_your_windows_7_upgrade_disk_fresh_pc?page=0,1
If you choose to double install, just insert the upgrade DVD again and run the installer from Windows as an "Upgrade."