Studierende is kind of problematic. While Studenten or Studentinnen describes groups of people who study in a university. It's a status. You are matriculated in an university. Therefore you are a Student. Studierende describes people who study. Whatever, wherever. Like study right now. This leads to weird problems.

If you now say that there is a group of students sitting in the bar drinking. It becomes a group of people who sit in a bar to drink and study.