To be clear: MATLAB R2014a is the latest release available to students:
If you are using MATLAB R2014b (not the student version), MATLAB is supported on Mac OS X 10.10 (Yosemite).
For the most accurate information regarding Yosemite and PreR2014b releases of MATLAB:
For more information, please refer to the platform roadmap:
MATLAB R2012a through R2014a (R2012a, R2012b, R2013a, R2013b and R2014a) may trigger a Java exception and abrupt exit upon startup. Once patched, they appear to work normally, but compatibility cannot be guaranteed. The patch can be downloaded from the bug report that can be accessed from the link below:
Launching MATLAB on certain versions of Mac OS X 10.10 (Yosemite) displays the following error message in a dialog:
"You can't use this version of the application"
For more information regarding this, please see the Bug Report linked below:
Versions of MATLAB earlier than R2012a are *not *compatible with Mac OS X 10.10 (Yosemite).