I guess that would really depend on the type of product or service you would go into, how people will be involved, are you planning to earn revenue from your blog via affiliate links, google ads, advertising etc.
How many writers, how many categories and soooo on.
Much to take into consideration - More importantly, if you are planning to earn some sterlings from the blog - who will have the account the monies go into - should we presume yourself
Overall - I undertand you are student! That could be quite massive in itself.
You could set-up WordPress MU - multiple users so that UK and possibly international students could set up their own blogs.
zzzzzzzz hope I haven;t put you to sleep yet .....