I just spoke with Apple and AT&T and I got the following answer:
Me: I am wondering if my shipping address has to match my billing address on my credit card or my phone bill.
Representative: Nope, it sure doesn't. However, the iPHone will be delivered to the address on the phone bill.
I asked if it can be changed to be delivered to another address, since I am going to law school elsewhere, to which the representative said that I had to contact the carrier regarding temporarily changing my address on my phone bill. I contacted AT&T and confirmed.
Thanks that is what I was looking for!
Next thing I am wondering is if my wife uses her card to pay for me will it work? Different name and she isn't on my account.