Adobe is running a deal on its site that will let students and teachers download a full version of Adobe Photoshop CS5 for 80 percent off. The student and teacher edition of the photo editing software typically costs $199, but until March 3rd it's just $39.80 with discount code "SAVE80EDU." To qualify for the discounted pricing you need to be a student with proof of enrollment (read: a valid student ID) in an accredited university, primary, or secondary school. Teachers, faculty, and staff also quality if you can provide proof of employment to Adobe. The discount applies to both PC and Mac editions of the software, and if you'd rather have a retail copy you can have one shipped to you for $5.95 more. Just keep in mind that CS5 is on its way out, so if you take advantage of this deal you'll be missing out on that fancy content-aware move feature demoed in Photoshop CS6.

Update: Unfortunately, it appears that Adobe is no longer accepting the discount code, even though it originally wasn't supposed to end until March 3rd. We've reached out to the company for comment and we'll let you know when we hear official word on what happened here.

Update 2: We've received a full statement from Adobe, and it turns out the company will honor orders that were placed at the discounted rate.

Adobe periodically offers special promotional pricing for student and teacher editions of software on Earlier this week, as part of a planned promotion, we issued discount code "SAVE80EDU" which erroneously offered an additional 80 percent off Adobe’s standard education pricing. The pricing error was detected within approximately 48 hours, and Adobe has deactivated the code. Adobe is honoring all purchases made while the "SAVE80EDU" code was active for purchasers who entered valid student/teacher credentials and payment information.