the titan x is a bit OK for a student and he could not build it cheaper whit a titan x since it cost's $999 or so.
the diffrent between i7 and i5 is that i7 have hyper treading ( some games and more coming ( probably ) is going to support it ).
just be shure the formula board have the bios that supports the devils canyon CPU.
OS and just a couple programs on C and use the second ssd for games ( waste of monney to run raid on it ).
backup and large files/programs on the HDD's.
http://www.asus.com/support/CPU/1/45/2/16/Dbn0i1Jz1yusKO7u/C20140529173757/the sticker "may" look like that, it should be around the 24pin contact on the motherboard.
the last 4 letters should show what bios version you have.
and take a read tru this page ->
http://rog.asus.com/forum/showthread.php?48855-Must-Do-s-for-making-4790K-work-with-Maximus-VI-Mothe...