Er, not quite...
It's only 160 mile round trip and he's doing three trips a week. He can probably do two trips per tank if he's lucky, so assuming there are four weeks in a month, that's 12 trips a month, so six tanks of fuel a month. Let's say £100 / tank, so that's £600 / month on fuel, plus a bit more because really there's 30/31 days in a month, plus tyres, servicing, wear and tare, depreciation, car parking costs, etc... call it £800 / month MAX. But also, when I was at Uni we were only really there for 8 months of the year, so £800 x8 = £6,400 / year on costs?.. Probably about right with that kind of mileage...
I still say sod the car and live there, even if living is more expensive - you'll have a great time and make some brilliant friends.
Oops! I thought it was 160 mile to get there haha! Still, it aint gonna be cheap!