did you try going to Max5/support/LivePacks and double-clicking the "MaxForLiveContent.alp"? just a thought. it might not be autoloading for some reason (as it should). otherwise i do not know about education discount things sorry.
I had similar problems some time ago. What helped was:
1) go to Live Preferences => Library-Tap . you find listed all installed Live-Packs. Select "Max For Live Contend".
Click on de-install. Quit Live.
2) reopen Live. Go to Max5/support/LivePacks and double-click "MaxForLiveContent.alp, as indicated by pid…
This should resolve…( I had problems without prior de-installation…)