You'll find lots of information here:
http://www.microsoft.com/mac/
The Teacher/Student edition of Office 2004 is cheaper than the upgrade
price, so you may as well buy Student/Teacher Edition brand new.
For Office 2004--the Teacher/Student edition is exactly the same as the
regular edition.
Buying 2004 now will entitle you to get the forthcoming Office 2008 for
only a shipping and handling fee--download the coupon for details and
small print:
http://www.microsoft.com/mac/go/promotions/
However, note that for Office 2008, the Student edition does not have
Exchange support.
> I own Microsoft Office 98 and wish to upgrade to the 2004 or newer
> version of Office suite. Are there any arrangements for doing so,
> other than an outright purchase similar to a new user. Also, I am a
> teacher; any "specials" possible.