If your license permits student home-use, then you may distribute copies to students. You should have been issued a separate student site license number and installers for the student version of the software.
If your license agreement does not include student home-use, then copies of Wolfram Research products cannot be distributed to students for use on their personal machines, even if they are located in a university residence hall.
If you’re unsure whether your license includes student home-use, then please view your license details at the Wolfram User Portal. If you want to add student home-use to your site license, please contact Wolfram Research or your authorized reseller.