Exactly, and making decisions solely based on rumor will not yield you good results. There are rumors of a "complete overhaul" every year. There were hundreds upon hundreds of threads about that prior to release of the 2011 models. Here's the thing, every year new models come out that are better and faster than the previous generation. If you want to play the waiting game, you may as well wait forever.
Bingo! what do you think the 2012 models will offer over the 2011 models? 200% increase in CPU/GPU power? Unlikely.
1. The OP said he's starting a school where they require him/her to have a computer. What would be the point of waiting 8 months? Just so he/she can have a marginally better computer? Well then, you may as well wait for 8 years and see what happens.
2. The "complete redesign", as it stands now, is just a rumor. The 2012 models will likely be better and faster, but guess what, so will the 2013 models, and so will the 2014 models, and so on, and so forth.
The 2011 models are good, solid computers; even if there will be a "complete redesign" in 2012, this can mean anything from different chassis design, to greater thinness, to exclusion of optical drive, etc.. If you think "complete redesign" means they'll make a perfect computer, you're gravely mistaken.