Yes, and you may find more information at https://www.gov.uk/student-visa/family-members 

• In this scenario, a dependant could be your child, wife, or civil partner. If you meet the following criteria, you may bring your dependents:
  
• If you are enrolled for a full-time master's program at a university or college classified as a higher education provider with a track record of compliance for a period of 9 months or longer,
• if your current or most recent immigration status was that of a student who was enrolled f in a full-time course that lasted at least six months. The following points also apply.
• If your immigration status is current or has expired within the last three months, you must submit an application.
• If you're a student who wants to enroll in a full-time course that lasts at least six months AND
• You apply for immigration permission with your dependent at the same time.
• Your dependent: already holds tier 4 immigration status AND
• Student Dependent Immigration Status has already been given to your dependent (or is in the process of obtaining it).

Schooling for your Children

All the information once gain can be found on https://www.gov.uk/student-visa/family-members 

The advantage is that if your children are aged between 5 and 16, they can attend government primary and secondary schools in the UK, as long as they are here as your dependants. You will not have to pay for this.

Financial Requirements

If your dependant is required to meet the financial requirements  set by the Home Office which is £7605 in London and £6120 out of London with that amount held in the account for a minimium of 28 days consecutively.  (source: https://www.gov.uk/student-visa/family-members )

• If you want to study outside of London, each dependant must show £680 for each month of immigration authorization you have been granted (or will be allowed if your dependants apply after you have been granted permission) (if your dependants are applying at the same time as you). This is for a maximum of 9 months (a total of £6,120).
  
• If you want to study in London, each dependant must produce £845 for each month of immigration authorization you have been granted (or will be granted if your dependants apply after you have been granted permission) (if your dependants are applying at the same time as you). This is for a maximum of 9 months (a total of £7,605).

How to APPLY

Your dependants must apply for 'entry clearance' from the British authorities in the country in which they are legally residing before they travel to the UK.

Each dependant must complete a separate application form, and pay a fee which is the equivalent of £348 in local currency. All applications are made online https://visas-immigration.service.gov.uk/apply-visa-type/dependant 

They will need to know your course details and Confirmation of Acceptance for Studies' (CAS) number in order to complete the application form.

Before starting the application, your dependant should read information for family members on the Home Office website, and especially the Student and Child guidance. source https://www.gov.uk/student-visa/family-members 

If your dependant's application is successful, a vignette (sticker) will be placed in their passport. If they are being given immigration permission for more than six months, the vignette will only be valid for 30 days. They will have to enter the UK within that 30-day period, and then collect a biometric residence permit from a post office within 10 days of arriving in the UK. The letter that they receive with the vignette tells them how to do this. If your dependant applied for their entry clearance at the same time as you, then in some cases they might be allowed to collect their biometric residence permit from your university or college instead of from a post office (ask your university or college if this is possible).

If your dependant is being given immigration permission for six months or less, the vignette (sticker) in their passport will last for the whole period. It will not expire after 30 days.

If you want them to make an application from inside the UK, they apply by making an online application through the Home Office website:

• If you are applying at the same time as your baby
  https://visas-immigration.service.gov.uk/product/tier-4-student 
  The application form will ask if you want to add a dependant child (your baby) to the application.
  
• If your baby is applying later than you
  https://visas-immigration.service.gov.uk/product/pbs-dependant-child