Hello everybody!!!
I'm living in Southwark now but I want to move soon!! If what you are looking for is party hard i wouldn't recommend you Southwark... I've been living there for a long time and is not the best option. If you want to live the London party essence and not too far from your studies I'd choose the East. Is a beautiful area, plenty of pubs, very-well connected and there are cheap accommodation as well.
Jorge