The students are taking their protest to Stormont
The protest, which is part of a UK wide action, was against spiralling student debt.
Students lobbied the Employment and Learning Minister, Carmel Hanna, to fight for money in order to abolish tuition fees and restore grants and benefit entitlements.
However, Mrs Hanna said the figures used by student leaders were misleading.
The SDLP minister said she supported the students' right to demonstrate.
"In fact, within the last two weeks I have discussed these matters with officers from the NUS-USI, who put forward their case forcefully and reasonably," she said.
"There is, however, a degree of selectivity in much of the information used in the current debate which uses examples drawn from a review of the English student situation and ignores the very real changes that have taken place here over the past year. "
Next September, some university students will get new bursaries and more will get free or reduced tuition fees.
However, discussion about a new repayment system based on a graduate tax has worried student leaders.
Tertiary education
Half of the province's students currently do not pay any tuition fees for university courses, therefore a tax on all graduates would therefore leave them worse off.
A student whose parents' total income is £10,000 or less should get a full bursary or grant of £1,500 and will not pay tuition fees.
If they earn more than £15,000 there will be no grant, but will be exempt from paying fees and if they earn over £20,000, they will pay some or all the tuition fee of £1,100 a year.
With the average income of a family with children standing at about £20,000, the department predicts a third of students will soon be able to claim a grant.
However, Brian Slevin, convener of the National Union of Students in the province, the NUS-USI said investing in tertiary education was the only way to get students out of debt.
Organisers said the rally at Stormont was to show local politicians that access to education should be based on academic ability, not the ability to pay.
A review of student finance, initiated by the former minister for further and higher education, Sean Farren, two years ago, failed to relieve student hardship, according to student leaders.
More and more students are forced to rely on part-time work to make ends meet and this is having a detrimental impact on the quality of tertiary education provision, they said.
A recent survey of student lifestyles suggested more than 50% of students are suffering high anxiety levels with many dropping out of their courses due to financial pressures.