The promotion will give eligible students an iTunes/App Store gift card with the purchase of a Mac, iPad, and for the first time, an iPhone. The gift cards that come with Mac purchases will be worth 100$ while the cards accompanying the iOS Devices will be worth $50.
The cards should work like an iTunes card, letting you purchase any media from the iTunes Store, App Store and iBookstore.
Apple Stores are said to be putting up new store displays for the promotion later tonight. The entry level 13-inch MacBook Pro will be promoted heavily as a great option for students.