My Students is your full roster across every class you coach, in one list. It has two parts:
Active — everyone currently enrolled in any class you coach. This list is always up to date automatically; there's nothing to maintain here yourself.
Pending — students you've invited directly (by email) who haven't accepted yet.
Inviting a student from My Students is useful when you want to connect with them before you've built or scheduled a class — for example, to have them ready to add once you publish one. It's a separate step from adding someone to a specific class; see Adding students to a class for that flow.
Available to coaches and club admins.