I read it twice to make sure my eyes weren't deceiving me and promptly clicked the link. My first thought was "Holy shit! Why weren't they doing this shit when I was in college?" My second though was I wonder "Does Microsoft want kids to fail out of college?"
Why on Earth would Microsoft make this offer? Do they not know that after receiving a free Xbox 360, classes be damned. The type of students that would respond to this offer are the type that will be covered in Cheetos dust and surrounded by Mountain Dew cans instead of going to class or studying.
Yes, why indeed, Microsoft, why indeed *strokes white cat in lap*. See, I'm on to your little games, marketing/engineering people at Microsoft. Job security. That's why this offer is being made. You're all worried about the next group of college students graduating and being able to take your jobs as new hires for lower salaries; therefore, you will offer them free Xbox 360s to ensure that they never graduate.
Well played, Microsoft. Well played.