What do you mean that's not the point?
Say a student buys a student license for CS4 for their graphic design degree, are you telling me they're not allowed to work on live briefs? What if that same student designed a record sleeve for their mates' band as part of their degree. Then, six months after they've graduated, the band sign a record deal and want to release the record with the same artwork for the packaging? They're not allowed to, right?
My point is that, according to other posts on this thread, a student license lets you do non-commercial work with the the exact same software, at a fraction of the price, but it doesn't let you do commercial work, for that you need an identical copy of the software at a much higher cost.
This seemed flawed to me because it didn't seem like it could be true. Someone has since posted to say that the student version is in fact a limited version of the software, which as I mentioned previously, makes much more sense – do what you like with the work you create with the student version, but you're limited in the work you can create because of the limited functionality provided.