Student Offer Question:XP 32-bit to 7 64-bit?

I understand the need to do a clean install with Windows 7 when upgrading from XP, but here is my question. I have Windows XP 32-bit home edition and am pondering doing the Windows 7 upgrade student offer, the problem is that the Student offer makes you explicitly choose 32-bit or 64-bit versions. I understand my hardware has to be 64-bit compatible, which it is - I am just using XP home which is 32-bit.
Question is: Since the install is a clean one, can I go from Windows XP 32 bit to Windows 7 64 bit?
Also - if this is possible, what kind of problems could I expect in terms of using my old programs (that I know I will have to re-install)?
Thanks, please let me know if there is confusion with my question - I tried to make it as clear as possible.

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