Rob
Ansys Employee

Student is for learning for an individual. The Academic keys are purchased by an Institute at varying levels, Teaching for teaching and Research for PhD and above projects: both assume the work will be published. For commercial work (consulting or private research for a specific company) you (University) will need a Commercial licence, also purchased. 

As an aside, do NOT install Student on any machine that's running a University copy of the Ansys software. It won't end well, and you will not be popular with your IT department! 

The full (and legally correct) definitions are here https://www.ansys.com/academic/terms-and-conditions