There are two version, the "textbook bundle" and the "software suite". Both are are basically full versions of LabVIEW, with the restriction that you can only use it for personal eduational use. (Not for research in a university lab, for example). The suite includes a few cool toolkits. Both are terrific values.
The Student edition prominently displays a "watermark" on the front panel and diagram to make "unauthorized" use immediately obvious. 😉
(Of course your title is a bit ambiguous, because there is more than one "regular" version. We have base, full, and professional. The Student edition is basically the full version and does not have the perks of the professional such as application builder.)