Register a company and student finance

Hello there,
I have a question. I have started my HND in engineering this January and my student finance has been approved with maintenance but has not been received in my account yet.
I am a mature student over 25.
Even though I don't work currently I was thinking of registering a company for the future. In the field of design and planning, related to my field of study.
I will be the director.
Now, I have no clients or any projects.
I am not sure whether I will earn any money or not.
Even if the company earns any money I doubt it will be significant enough to support me.
I have been advised to do this as a step for the future.
Building reputation and show longevity.
I live alone as well.

Now my question is, will this step hurt my student finance situation?
I dont want to mess up my studies.

Please advice.