You don't have to be a student to buy the student version. It can be bought at tons of retailers like best buy. Amazon might be a cheaper option.
I just bought the Home & Student version yesterday for a hair under $110. Did it online from Microsoft.
If he's using this for The Mighty Pen outfit, is he okay under the T&C/EULA/whatever to use the Home & Student version? Considering it's a commercial endeavor?
I'd hate to see the MF drop 90 bucks on a home/student version and be in a licensing and/or tax write off SNAFU when the home/business version is like $150.
(going off the http://Buycheapsoftware.com prices)