No. It is identical to a Model Developer Edition of ExtendSim with the exception of few things:
ExtendSim will only launch for 30 days in Trial mode. After that, it must be activated to a fully licensed version.
When you open or build models in Trial mode, you will see a Trial version watermark behind each model. This watermark gets saved with the model. To get rid of the watermark, activate your ExtendSim license and re-save the model.
Models built and saved in a Trial version of ExtendSim cannot be opened in ExtendSim Student. if you build a model in a Trial version of ExtendSim, purchase and activate that license, then re-save the model in the activated license so it can be opened in a Student version.