Well, I called JourneyED today and I got the following info on XSI 2.0 student purchasing plan.
For upgrades of XSI 1.5 to 2.0, a 1 year subscription is $295 and a 2-year subscription its $495.
For the complete package with books other stuff(not sure what other stuff is, but my guess is a shinny new XSI 2.0 box with tutors) XSI 2.0 1-year subscription is $495 and 2-years subscription is $895.
Of course the sales rep didn't give me all the info I wanted like do we get new dongle lock for upgrade package, but that's pretty much it.
Hopefully Softimage will officially announce the student/faculty purchasing program soon.