Снасибо! Сейчас я понимаю.

So for active pres. participles I take the 3rd person present plural declension of the verb, in this case 'Изучают', take away the т and add щ and then add the corresponding adjectival ending depending on the case that the noun is in? In this case, because 'другими студентами' is the instrumental plural, the ending takes 'ими'.

It translates to 'other students studying' and works like an adjective?