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Vishal Ganore
Ansys Employee

AIM Student is our modern, highly intuitive simulation product. It has a very contemporary UI that is tightly integrated with ANSYS SpaceClaim. It provides a good introduction to structural, fluids and some electromagnetics simulation. It has a very different look and feel to ANSYS Student which is ANSYS Workbench based, and the ease of use does trade off the broader and deeper physics capability provided by ANSYS Student. This Features Table provides more detail on the differences. 
Very generally: If you are new to simulation, then choose AIM Student. If you exhaust AIM Student's capabilities then you can easily switch to ANSYS Student for a far deeper dive into simulation.