UNTIL
they audit you (which it says they do periodically, and one would think especially in a down market when (a) they're low on dough and (b) they're high on people not busy selling tons of thrown together systems). If they find out that you weren't eligible, then you have already pre-authorized them them to snatch the discount back from your credit card. In Texas that's called injun givin.
Here it is:

So if you're gonna make up a school id you'd better charge that sucker and then can the card quick so when they reach in for another dip they get expelled.
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