I have no idea if this will actually pan out for anyone, but, based on a cursory internet search, I had some ideas which might help students whose college does not provide the institutional discount:
(1) If you are a student at a
public higher educational institution, check with larger higher ed schools within your state system (it seems like schools within the same system might be able to purchase at another school's campus store, e.g,
http://www.univnorthco.edu/bearlogic/StudentArea/newStdtInfo.htm#Who%20is%20eligible%20to%20purchase%20from%20Bear%20Logic? and
http://utbookstore.utk.edu/uccs/personal/). Granted, even some of those stores appear to have restrictions on their ability to resell to students outside their own campus, but I suspect that might simply refer to any software for which the university is subsidizing the cost (rather than merely reselling at the institutional rate they purchased it for, as would likely be the case with Leopard).
(2) If you are not part of a large state system, it may be useful to just call campus stores at other schools in your area and see whether they have strict sales policies (limited to their own students--which is the case for most) or more lenient policies (e.g., I can't guarantee this, but it appears that some schools like San Francisco State,
http://sfsubookstore.com/catalog/default.php/cPath/2, might resell to any student who can prove they attend an accredited higher ed institution).
Disclaimer: I obviously do not control the above campus stores, so I can't guarantee what they will do; the opinions noted above are just based on my (perhaps misinformed

) reading of their websites.
Nonetheless, those might be worthwhile options for students having trouble finding Leopard (though you should probably expect a delay even if they will sell to you). Good luck.