This article explains how to connect your existing Hulu account to Spotify Premium for Students. It also explains how to see if you qualify for the special deal, which is available to U.S. college and university students and gives you access to Spotify, Hulu, and Showtime for $4.99 per month.
How to Activate Hulu with Spotify Student (2022) – Spotify Student Discount
If you have an existing Hulu or Showtime account and an active Spotify Premium for Students account and you want to take advantage of the Spotify Premium for Students offer, you'll need to transfer your billing to Spotify.
If you're new to Spotify and have an existing Hulu subscription with ads (with no additional services enabled or linked), you can simply approve the change during your Spotify Premium for Students sign-up process.
If you already have an account, you can make the change through Spotify.