If you access the apple store from your university or school (i.e. - though a .ac.uk address) you can use the higher education store, which has more significant discounts than the regular 'student' store you can access from anywhere, including the much cheaper applecare, though note the point above that you automatically (as I understand it) get a three year warranty from the higher education store (as opposed to the standard year warranty with the regular student / non-student stores).
As I understand only applecare, and not the warranty includes things such as free telephone support etc.
You can also get the higher education discount over the phone.
I got the cheap applecare when I bought my macbook, though with hindsight it would've been better to rely on the three year included warranty and spend the extra ~£50 or so on the hardware itself 😀