student = students[i];

That line of code would appear inside your for loop, where i is greater than or equal to 0, and less than the length of your array.

student = students[i] will then result in the item at index i in the array being assigned to variable student.

Every time the looping run the variable "i" will get one valor. Each valor represent a objects inside your array, Ex: [0, 1, 2, 3, 4]

In each loop the variable "student" asborve the array content. Obs: every looping the variable "i" will added by 1. At the end of every loop the result of "student" appears at the screen.

student= students[i];