Hello,
Information regarding education is available on the official FAQ:
https://www.unrealengine.com/faq#education
Cheers!
Hi,
I’m wondering if there will be a licensing plan for education (school, students, etc.) in which the 5% revenue sharing is not a factor? For instance, I teach UDK, but we never publish anything for profit. Will there be free beta downloads as there currently is for UDK?
Thanks!
Tim
Hey, does this help answer your question?
What provisions does the Unreal Engine 4 End User License Agreement (EULA) make for educational use?
All academic institutions are permitted to sign up for a subscription. You can install the Unreal Engine on all of your computers and allow all users, such as students working on those computers, to use the engine.
If a student wants to install Unreal Engine 4 on a personal laptop, or to release a product developed on an academic computer, he or she must sign up for a subscription.
What perks are there for schools and educational institutions?
We allow all Unreal Engine 4 users who sign up to install the engine on multiple machines. Schools have our permission to pay for one seat and ‘flash’ or image Unreal Engine 4 to multiple machines across labs, and access C++ source code via GitHub. No lab fees!
Out of curiosity, do you guys have any provisions for home schooling? I home school my two children and would love to use the Unreal Engine to teach them a bit about programming and building games. Since we’re a significantly smaller group, would it be better to just sub up when updates are needed to the engine? Would that change if we were teaching additional students in our home?
Each student would need a license - but it’s perfectly acceptable to pay $19 and then immediately cancel and just pay again when you would like a new version 
Please see Unreal Engine 4 for schools, faculty and students - Unreal Engine for some extra information. It is also covered in the EULA.
Thanks for the quick response!