At 2 cents per 1000 tokens (~750 words), unless you're doing it a lot that should be quite manageable? That's ~$13 for 1000 cards of 500 words (prompt + card + tags). The smaller models are cheaper still and might perform well enough.
From a budget-conscious student's perspective, this amounts to roughly $20 per semester in my case, just for the tags. Despite this, I am still fascinated by the automation possibilities offered by GPT-3.
I think my expectation of this kind of service (on demand huge network) is fixed monthly fees, call us for pricing, etc. It's cool that it's approachable as a student. It'll be very interesting as costs for these things drop and/or performance improves at the same price points.