My question is, what else will I need? Will I need more fans if I overclock? Does my psu give enough power? Are these parts compatible?
1. Looks like you have everything you need.
2. Probably not. Case has pretty good airflow through it.
3. You have a better than average power supply with more than enough capacity. A good 500 watt power supply will power your system.
The Asus video card you chose has been having some driver issues and people are starting to complain about it so with Evga's limited lifetime warranty you are much better off with this card.
Unless you opt for the Corsair cpu cooler if you make all these changes you still won't be over budget and you will have improved your build.
If you plan on overclocking the only fan you will need to add is the cpu fan heatsink/fan or the Corsair cpu cooler. with or without these changes the parts are compatible. I would stick with the 650w psu since the minimum psu requirement for the 560Ti is 500w I see no benifit in going with the minimum and having a little extra is always a good thing. Because you are getting a good deal on the OS with the student select I would stick with that because in a normal purchase it costs $100 for the Home Premium.