Immediately after I told students that the three main file formats for print production are .EPS, .TIF, and .JPG, (and .jpg is the least desirable)
Better told your student that today, the 3 main file formats for pixels pictures are PSD, TIFF and PDF...
... and especially teach them that Photoshop EPS is "out of age" at least since Quark released XPress 6 (2003!!!)... and had already more inconvenients than advantages even in the old times of XPress 3, 4, or 5, except for some special cases.
Today, as a basic rule, you can consider that PDF can do all what EPS did, and often better!...
... meaning that today the PhotoshopEPS has to be used only in some rare special cases (for example clipping mask or duotone pictures for QuarkXPress 5 or older... or spot color in a Photoshop picture using DCS format) and has lost it's first place in the "Top 3" of the Print file format (first place that it had got by accident!!!).
JPEG is IMHO a dangerous format, because it is mainly a web/office file format, and it's either crap or potentially crap... but in some cases with all the needed knowledge and all the needed cares to use it, JPEG can be an helpful Print format.
But JPEG can also be the uglyest file format! so, once you accept JPEG as a Print format, and you accept the (risks of the) known problems of the JPEG, why not accept also all the others web and office file formats, like PNG, BMP, GIF, with all their risks and limitations, knowing than none of these 3 web-formats can become as ugly than a low quality JPEG re-recorded 20 times???
BMP is nothing more than "Microsoft's TIFF",
GIF, even with only 256 colours is less ugly than a low quality JPEG,
and a PNG file is a picture with pixels and can be imported in XPress!