Can I purchase additional packages/toolboxes after purchasing the student version of MATLAB?

In addition to the main Matlab software with the core package, there are numerous additional tools available. Can I purchase additional tools after buying Matlab, or is it not possible to expand the software after purchase?

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Yes, you can certainly purchase additional toolboxes after you made your original purchase !
However, if you purchase through the online store https://www.mathworks.com/store/link/products/student/SV , toolboxes are $US10 each with the initial purchase, but are $US29 each after the initial purchase.
Note that the online store lists all of the toolboxes that are available for the Student version. If a toolbox is not listed there, then it is not sold to students ! For example, the 4G Toolbox is not sold to students.
I notice that you used the tag of "students home". If you were referring to the Home license, then it does not offer the same discount on initial toolboxes purchased. There are no additional products for the Home license other than the ones listed at https://www.mathworks.com/store/products/home/new . For example, MATLAB Coder is not available for the Home license (but is available for the Student license these days.)

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