If you need a serious word processor and don't want to pay much, check out OpenOffice. Quibbles are minor and small, but the price is even smaller: $0. These more advanced features don't always translate well among different programs, so be aware. Normal academic-support tools are included, such as headers, footers, cross-references and a bibliographic database. LibreOffice and Microsoft Office call the tool Track Changes, but the name difference doesn't cause any problems in the function across all three similar suites.
OpenOffice does support Track Changes, but calls the features Changes (Edit > Changes > Record). But if your ideas include wrapping text above, around or below images and graphics, OpenOffice is less flexible than the other two options. If you want tight control over the look and feel of your documents, you should have no trouble finding the tools you need.
Styles, Themes, clipart Gallery and the Navigator are nearly identical between OpenOffice and LibreOffice.