No you are not. You need to live on Canada to be eligible as a sponsor, as you are studying out side of Canada that is considered as not living Canada.
https://www.canada.ca/en/immigratio...sponsor-parents-grandparents/eligibility.html
I wish you had checked eligibility before submitting EoI to sponsor. Now you have not and are invited, one possible way to proceed further is to move back to Canada and apply. Few excerpt from the above link that a lot of us wished you should have read are below
….
You can sponsor your own parents and grandparents if
- you’re invited to apply
- you’re at least 18 years old
- you live in Canada
- Who can’t sponsor a parent or grandparent
You can’t sponsor your parents and grandparents if
- you haven’t been invited to apply
- you’re less than 18 years old
- you won’t live in Canada when you apply to sponsor your parents and grandparents and/or when your parents and grandparents become permanent residents
- Your primary residential address must be in Canada when you submit your application and until we make a decision on your application.