To apply for the Student account you must:
[ol]
[li]have been a permanent UK resident for the last 3 years[/li][li]be 17 years or older,[/li][li]not hold a student account elsewhere,[/li][li]have applied for a full-time course of at least two years duration which is one of the following[/li][/ol]
[ul]
[li]Undergraduate degree such as a BA, BSc, LLB or BEd,[/li][li]BTEC Higher National Diploma (HND – level 3 or 4),[/li][li]Diploma in Nursing Studies,[/li][li]Diploma of Higher Education,[/li][/ul]
Or
[ul]
[li]have an unconditional offer letter or a UCAS acceptance letter for one of the above courses.[/li][/ul]
Link: Macworld UK - LloydsTSB offers free iPod shuffle to students
NOTE: according to the poster in the bank window, you also have to depostit £500 by (i think) a date in september