Recently MS extended that offer for High School Students as well.
The one limitation is that each School or University has to sign itself to the list so MS can make sure they actually are a valid High School or University. Once they are signed up, any student can download free stuff with just their student ID.
It includes Visual Studio 2008 Professional, SQL Server 2008 Developer and Windows Server 2008 Standard amongst other things.
So, if there's a student in your life, let them know.