In the past, Microsoft has handed out free Xbox 360s to university students with the purchase of a Windows 7 PC, but now it looks to better embrace the study aspect of school. University students can pick up a four-year, $80 subscription to Office 365 University, which gives them access to Word, Excel, PowerPoint, OneNote, Outlook, Publisher, and Access. Microsoft says the deal works out to about $1.67 a month, so pretty much any student can afford that. The deal also includes 60 Skype world minutes a month and 27GB of Premium SkyDrive storage, plus free upgrades and installation on two separate systems. In order to get the Office 365 University subscription, full and part-time students must first purchase Office University 2010 or Office University for Mac 2011, then verify their credentials to gain access. Office 365 University is expected to arrive early next year.