It depends on your personal financial circumstances. Many students who rely solely on Student Finance, find that it doesn't cover all of their rent, living and study costs. Some find that it doesn't even cover the rent in full. It certainly wouldn't leave most with enough to keep a horse in stables and a regular twenty mile round trip to visit it.
However if you can get additional contributions from e.g. parents or a part-time job, then it might be feasible.
You need to do some maths. You can use the online SF calculator to work out how much money you might get from them. You then need to check the cost of student accommodation and deduct that. The remainder will be what you need to use for eating, travel, horse, socialising etc.