ADJECTIVE MODIFYING NOUN
In the sentence you provided, "The interested students" is the adjective phrase modifying the noun "students," indicating that the students in question have a specific characteristic of being interested.
An adjective is a word that modifies a noun or a pronoun by describing, relating, or quantifying words. An adjective expression is a expression that functions as an adjective in a judgment by modifying a noun or pronoun.
So in this case, "The interested students" is an adjective phrase modifying the noun "students" because it is providing a characteristic (being interested) of the students that are being referred to in the sentence.
Hope This Helps You!