Well, then, you need to match on both the name and the age:

$found = 1 if /^\s*\Q$student\E\s+\Q$studentAge\E\s*$/
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should do the trick. If no one else ever touches the file, you can get away with eliminating with \s* on either side, but I figure they don't hurt, on the off chance someone brings the data file into an editor at some point.