(This is an updated version of an old post.)
As a mac user and a UofT student, I use ‘mail’ on iOS and don’t bother with web-based Outlook or Office365 (the online versions of Word, Excel, Powerpoint).
However, as the title suggests, you can download (for FREE!) the ‘desktop’ versions (2016 update for Mac) of Word, Excel, Powerpoint, etc.
Go to: http://www.mail.utoronto.ca
Log-in to UofT mail on your web-browser
Click “Office365” on the top-left of the web-page.
Click “Install Office 2016” on the top-right of the web-page
(Your browser knows whether you are Mac or PC; don’t worry about downloading the wrong version)
A pop-up window will give you more instructions for installation
Once downloaded, open the program and use your UTORid to activate your subscription.