The student license is limited to 5 simultaneous equations and limits the mesh to 100 nodes in 1D, 800 nodes in 2D and 1600 nodes in 3D. (Notice that this allows such advanced computations as contaminant transport, 3D thermoelasticity, and three-component 2D chemical reaction kinetics.) The student license is free and is provided with the evaluation download as well as in the special version 5 student download.
The professional license has effectively unlimited mesh size, and unlimited number of simultaneous equations (subject to available computer resources). The professional configuration can be licensed with 1D, 1D+2D, or 1D+2D+3D capability.