Heh, but German is not Latin, and so 'student' in German, as often happens with borrowed words, has acquired a different meaning, viz. that of a noun in this case.
Sorry, in Latin every adjective can also be used as a noun. So “studens” (“studierend”) can also mean “Studierende(r)”.
Edit: The point is, Latin “studens” also has the concurrency aspect to it, just as German “Studierender”. If you say “studens ambulat”, it means “He/she is taking a walk, while studying.”