If it was me, I wouldn’t do it. You’ve already highlighted the reason:
i mite come up with some new ideas to make it more exciting.
Which I read as ‘I’ll blow all my spare cash on this frame and then get myself in trouble trying to buy all the parts that it deserves’.
It is a lovely frame, but it won’t ride much better than a £300 alloy hardtail. If you NEED a new frame, get one, but don’t blow your cash on something pretty. Things can get tricky when you’re a student and having that money stashed could come in really useful (think still being able to afford to go to uni).
I had a proper rat-bike when I was a student, but still enjoyed every minute of riding it, and that’s what counts.