However, when you see the words around it and give a little more attention to what the lyricist of 'Student Of The Year' is trying to explain, it gets a little more meaningful.
Basically by ishq wala love, the meaning is love that is serious, something that is not an infatuation, something that would not die in a few days, a love that will be there forever, a love that is about love. Ishq wala love.
Hope it makes a little more sense now.
Check All Lyrics, Meanings and Translations from Student of The Year HERE.