The relation between the ApiService instance and the Student objects (that it returns when the operation fetchDataFromApi is called) is spurious: it exists only for the time of the operation. I would not expect the ApiService to keep track of all the students it has returned nor the students keep track of the ApiService that created it.
As a consequence the relation should not be an association (nor a shared aggregation, nor a composite aggregation).
The relationship would be a usage dependency (an open headed dashed arrow from ApiService to Student with or without «use»), probably even more specifically a «create» dependency. And no multiplicities ("cardinalities" in non-uml ERD-speak ) are needed for dependencies.