If you are a student or a university teacher interested in Embedded then you might know about MSDN Academic Alliance and the fact that Windows Embedded CE tools are available in this subscription. Windows XP Embedded has never been available there but the good news is that the latest version, Windows Embedded Standard 2009 now has an academic SKU! Check this out: http://blogs.msdn.com/embedded/archive/2009/01/14/finally-here-it-comes-windows-embedded-standard-2009-academic-sku.aspx
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Microsoft gives a lot of support to the academic community. I was reading through Oliver's WEBlog