Anyone with the link: Anyone that you send this link to will have the permissions that you set AND can forward the link on giving other users the same permissions If you are sharing a folder, anyone you send the link to will have the permissions that you set AND will be able to forward the link on giving other users the same permissions.
People in Concordia University Wisconsin with the link: Anyone that you send the link to will have the permissions that you set providing that they have an @cuw.edu or @cuaa.edu email address.
People with existing access: This setting is if you are generating a new share link for a document that you have already shared. Anyone with previous access will receive the new permission you are setting.
Specific People: Email addresses that you specify will receive the permissions that you set.