For student work/learning, I'll recommend to buy the Analog Discovery. It has all in one, oscilloscope, generator, power supply, but what's more important is that it has tons of free classes, experiments and tutorials, with software that can control all the instruments in an intuitive way. Plus, it is small and portable, you can even take it with you at school if you want, find a laptop and experiment with other classmates. When learning you don't want the hassle of extra cabling, learning SCPI or other cumbersome tool to run an experiment, and so on. An analog discovery is very easy to learn and handle, and has a very versatile tool.
With classic/standalone instruments, you don't get any of the above advantages, particular with the very cheap instruments. You want to focus on learning electronics, not on dealing with the pitfalls of very cheap/unreliable standalone instruments. If you buy cheap standalone instruments, it will be a waste of money, because in that budget you can only find very unreliable instruments, so you'll end up buying again something more expensive.
There is no way to buy a good enough oscilloscope+generator+power supply for the money of an Analog Discovery, particularly the one with student discount.
An Analog Discovery is the best choice for learning, and it finds its use even in a fully equipped EE labs. There are plenty of measurements and experiments that are much easier to run on an Analog Discovery than on standalone lab instruments.
Another alternative to Digilent's Analog Discovery might be the similar all-in-one learning kit from Analog Devices' "ADALM" series, I think it's called ADALM2000
https://www.analog.com/en/resources/evaluation-hardware-and-software/evaluation-boards-kits/adalm2000.html#eb-overview , not sure which one is the latest version. ADALM2000 is also very good for learning electronics, has a lot of free tutorials/experiments/classes from the ADI website, but I think it is less widespread than Analog Discovery, not sure which wins.
I remember ADALM being cheaper than Analog Discovery, but I didn't check neither of the two protucts since some years ago, not sure which one would be better. Both were designed mainly as all-in-one learning platforms for students. Both have plenty of free learning classes, with experiments and examples designed for that particular kind of all-in-one EE lab.