I've gotta be really honest here, I'm ridiculously disappointed in Otoy for not updating the student version of the plugins for two years. They only support 3DS Max up to version 2013, although the very year they were released, Max 2015 was, too. No student from 2014 onwards has been using 2013. The student license version, 1.20a, has therefore not only been outdated since its release but has been useless for two years. I'm shocked there are no educator licenses for teachers who want to make the full power of the software available to students who will later purchase standalone licenses once they are working professionally, or a student discount on a standalone license. Virtually every other software out there has this to make it more accessible and broaden the market, so it shouldn't be so difficult for Otoy to do.
Insofar as the demo versions are concerned, the render size is too small and the watermark too intrusive for it to be used by students for learning purposes.
$512.22 (the USD equivalent of the standalone+plugin bundle price before tax) is too expensive for students to afford, so it would be nice for Otoy to offer a student version that students can actually use. The v1.5 student plugin was supposed to come out last year, but now we're being told it won't come out until sometime after v3's release. Even then, we have no idea if it'll actually happen, considering how delayed it has been. Also, while I can understand not releasing the most current version of a software for a free student license, considering that v3 is coming out, v1.5 doesn't really seem like enough of an upgrade from v1.2 to be viable and in another few months it will probably wind up having the same problem, being too outdated for anyone to use.
To be frank, students would probably rather pay for a discounted student license than put up with the demo or an outdated plugin that hasn't worked for two years.
I went through the trouble to get my student license and I can't even use it for anything. I'd like a student version I can actually use, like last week.