Here's a few changes I'd suggest:
Mobo: Gigabyte EP43-DS3L
CPU: Intel E7200
Graphic: ASUS 8800GS for $44AR
HD: Seagate or WD 640GB. If you go WD, get the Black Series.
PSU: OCZ StealthXStream 500W. I use this for my sis computer's and it's been great.
DVD: Samsung SH-S223F
You should come in at well under $800. Use the remaining money for school :). And I suggest you buy now. Hardware prices have been slowly increasing, and at this rate, I think hardware prices will keep on going up.
Also, you said you already have RAM, so why are you looking at another set of RAM?
All parts can be found at the weekly specials from NCIX. Don't forget to price match to get the best deals.
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