How best to implement Student / Teacher Pricing?

I would like to sort customers into groups after they sign up for an account with my site.
Student, Teacher, Other, etc.
My company gives special pricing to these groups. We send out a catalog each year listing this pricing for these groups.
After the customer logs in, I would like pricing to change/update based on that customer group.
Displaying the Original Price above / beside the new discounted price would be a plus as well.
Does BC have this capability?

Hi Lambeosaurus, I think the best and quickest way I achieved this was:
1. Create your registration form for Teachers/Students to log in.
2. After they are registered you can go to their account tabs and Select the option SUBSCRIPTIONS>Catalogue Discounts and apply the discounts for your catalogs.
Secondly but maybe harder is to create a new registering form and automatically assign the users to have their discounts as subscriptions.
You will maybe have to create a new WORKFLOW for this!

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