Replying to Adobe Premiere Pro vs. Adobe Elements

Okay, so, I need new editing software because WMM isn't cutting it anymore. My videography class uses Adope Premiere Pro, and its a fuckin baller program. However, its pretty expensive, and it retails for something like $400. With my student discount I can get it for about $150. On the other hand, Adobe Elements is a watered down version of Premiere Pro that retails for $150, and with my student discount I could most likely get it for under $100. Which seems like a better deal?