Is the word estudantes the same in Brazilian and European Portuguese?

Yes

The spelling, meaning, and grammatical function of "estudantes" are identical in both Brazilian and Continental Portuguese. The only difference is pronunciation. In Brazilian Portuguese, vowels are generally more "open" and clearly articulated. In Continental Portuguese, unstressed vowels (such as the initial 'e' and the final 'e') are often reduced or "swallowed," making the word sound much more clipped and less phonetic to a non-native ear.

Brazilian Portuguese Examples

1. Os estudantes estão estudando para a prova. (The students are studying for the exam.)
2. Tem muitos estudantes na biblioteca hoje. (There are many students in the library today.)
3. Os estudantes ficaram muito felizes com o resultado. (The students were very happy with the result.)
4. Os estudantes usam o tablet em sala de aula. (The students use the tablet in the classroom.)
5. A escola recebeu novos estudantes este ano. (The school received new students this year.)

Continental Portuguese Examples

1. Os estudantes estão a estudar para o exame. (The students are studying for the exam.)
2. Há muitos estudantes na biblioteca hoje. (There are many students in the library today.)
3. Os estudantes ficaram muito contentes com o resultado. (The students were very happy with the result.)
4. Os estudantes utilizam o tablet na sala de aula. (The students use the tablet in the classroom.)
5. A escola recebeu novos estudantes este ano. (The school received new students this year.)