What Will You Do With Your Student Loan?

Student in the UK get up to £3500 or so per term paid into their bank account each term. For many students this is the first time they have ever had so much money to call their own. There are big temptations.
I once rented a room to a first year student. Evey time he got his hands on that term’s student loan, he disappeared for a couple of weeks to go on a drugs, drink and sex binge, after which he had trouble paying his rent. He dropped out of University after a year and went home a failure, in debt.
I could have saved hum from failure. I could charged him rent upfront and have taken upon myself the burden of those drink and sex binges. I feel guilty now that I did not.