It's the Photoshop effect- because Premiere is a brand name they can charge more. However, I am not that impressed by Premiere- while it's a good program it's not worth that much more money than the other programs listed. I don't know what they cut from the "light" version (AKA Premiere Elements) but it should be sufficient. Pinnacle Studio also was very good software when I last tried it (5 years ago). One problem is that video editing software seems to frequently disappear from the market, another reason to stay with a brand name. I did not think of educational discounts. If you qualify then there is no question about what to get: After Effects CS3, Eur 375,- : http://www.dyna-byte.de/dl_froogle.htm?category=185&sub=9&id=54022127ET&ref=3