Sorry, this is a user to user forum, not Adobe support
Unless the process has changed, you will receive information with your order on how to submit your information and then be sent your activation number
How long that will take MAY depend on exactly how and where you ordered... I don't know if different vendors have different instructions
I bought CS5 MC before I retired from WA State University, and my activation numbers were sent to me inside 2 days
You should be fine. Like John said you must prove that you are a student when submitting the information. If you receive it when you no longer a student then you will have to pay for a full licence.