I would say go for Photoshop Elements. I haven't seen 10, but 9 did damn-near everything the average tog could dream of.
As a student you should be able to get it at a real knock-down price, but be prepared to be bombarded with 'enticements' to buy the next version, or CS5.5 etc. On the plus side, however, Adobe do drop the odd hint and tip into the mix - which is nice.
