If you are talking about the standard cycle to work schemes, then no: these involve a salary sacrifice to save money by not paying income tax. As students generally don't have a salary or pay income tax then there is no saving to be made. It would be *possible* to also save VAT under these schemes, but virtually none of the schemes I've ever seen* actually pass on this saving, they use it to help cover their costs.
There are various things advertised as cycle-to-campus or similar, but they are just retailer student discounts.
* apart from micro-companies operating the scheme themselves.