Hey 004lazer,
While our offer for academic institutes to receive UE4 applies to colleges and universities, you are still able to take advantage of UE4 while you do not have an active subscription.
If cost is a concern, then I would suggest getting a subscription for just one month and then cancelling. You will only have to pay the $19 once, but you will be able to keep and use UE4 forever. You can even publish your games without re-subscribing (the 5% royalty still applies to sold products though). There is no need to pay every month unless you want updates and new content as it comes out.
Let me know if you have any questions.