Extending hook updates before expiration of the previous period

My license for updates will expire in January. I would like to buy upgrade to the Pro package using current promotion.
Does it extend my subscription so it will end in January 2023 or it will end a year after I will buy it, in November 2022?

Also are there student discounts valid for extending the subscription the next 12 month?
The upgrade price is already discounted.

Sorry, I meant not the upgrade but extension of the current licence in my question ( I cannot edit my question now)