Welcome!
Not to sound like a snob, but I would recommend learning to clean and repack your own hubs, and either ride with a cartridge BB (recommended) or if you MUST use cup and cone, learn to work on that too. There's plenty of nasty grit around here, and there's no point wasting the dinero (which isn't always plentiful for a student) for something that you can learn to do pretty easily yourself.
slodo put the rest pretty well.