As a guy who is still paying off his student loans, all I gotta say is every penny you waste from your student loan is going to be a penny you cry over when you're paying hundreds of dollars every month for years and years as soon as you finish college.
Student loans make college affordable for many, but if you're wasting it like you say you are, you are going to be in a very painful situation here in a few years.
If you are lucky enough to get a job out of college, how much are you going to make? How much will you pay for rent, utilities, food, health insurance, etc.? Now add another $300 per month (more or less depending on how many loans you took out) in paying back the student loan. If you don't pay the student loan, it will go into default and you will end up not being able to get credit cards, much less a home or a car. Then you'll spend a year i debt rehabilitation, paying through the nose at atrocious rates, and after that year, you will have to start making loan repayments at a higher rate than you would be if you had made all your payments from the start.
Don't have a job after college and don't have enough money to pay the loan payments? Too bad you'll go into default and when you get a job, they'll start garneshing your wages.
Oh yeah, got a job but your loan is in default? Just wait until you file your taxes. If you get a refund, the refund will be siezed by the Federal government and used to pay towards your loan, but most likely it will be eaten up by late payment fees and extra interest instead of going to the cost of your loan.
Use the student loan money wisely, or you'll spend anywhere from five to twenty years regretting it as you pay off those loans.