No. Because as long as you keep the computer, you are essentially getting the gift card for free.If you pay $150 for the $150 gift card doesn't that negate the purpose of the gift card? Or are you saying the $150 for the gift card goes away when you get the gift card?
For simplicity, let's say the computer you select has a regular, available-365-days-a-year education price of $1,000.
When you participate in this promotion, Apple further discounts the price of the computer to $850.
However, they also effectively force you to buy a $150 gift card at face value.
So, you've technically spent $1,000, but you also have $150, in the form of a gift card that you can spend at Apple, in your pocket. Assuming you can find a way to spend it, your effective out-of-pocket is $850.
Apple does this so if you return the computer, they don't have to mess with trying to claw back the gift card, too, which would be especially messy if you'd already spent it.