have a student version of Lightroom five which I purchased several years ago and now I have purchased the crative cloud with lightroom5. What happens with my old version and the information on it when I download the new version?
Considering what you have written, I assume that you have a student version of Lightroom 3. And, now you have subscribed to the creative cloud. You will install Lightroom 5 from the creative cloud application manager. When you start Lightroom, after it has been installed, it will recognize your Lightroom 3 catalog and will prompt you to allow the program to create an updated copy of that catalog. It will leave Lightroom 3 and everything you have done completely intact and usable. After Lightroom creates the new catalog updated to the Lightroom 5 format, you will be able to continue working with your images just as you did in Lightroom 3. Lightroom 3 will still be on your computer. It will be your decision whether or not to uninstall that older version.