If you missed out on Microsoft's deal last year, don't fret as they have brought it back again this year. Requirements are similar, though it seems as though Canadian's are getting a slightly better deal than Americans. The promotion? Buy a new PC worth at least some amount at a participating retailer and get a free Xbox360!
Here are the requirements as Microsoft says, so that I won't be held to anything:
Starting May 20th in the U.S., students who buy a qualifying Windows PC worth $699 or more at participating retailers can get a 4GB Xbox 360 console for free, just like last year! Starting May 18th in Canada, students who buy a Windows PC worth $599 or more can also get a 4GB Xbox 360 console for free!
Participating retailers in the US include Best Buy, Dell.com, Fry's Electronics, HPDirect.com, Microsoft Stores, and NewEgg.com. In Canada, they include Best Buy, Dell.ca, Future Shop, Staples and The Source.
Canadians only have to purchase a computer worth $599 whereas Americans have to spend $699. Computers at those price points are pretty nice all-in-all and will net you a free Xbox360 if you can prove you are a student. Sure, most people like either gaming on Xbox OR PC and not really both, but it is still a good deal.
If you're a PC gamer, you can just sell the Xbox 360 to a college friend. If you're an Xbox gamer, you probably already have an Xbox. If you don't, you can get one because a PC at $699 isn't likely to be an extreme gaming machine anyway. I know I will be picking this deal up even though I already have an Xbox.