I heard they get the job done, yet it is always easier to have driven drill like a battery powered drill as you will have more control and less stress on the drill bit so if you have one I suggest you use it, better would be to have a drill stand or anything that will ensure a vertical angle on your workpiece, but if that's a bit rich for you I totally get it ^^ as a student ^^.
better safe that cash to buy yourself some good drill bits and practice that steady hand, cause else you'll break a heck of a load of drill bits.
and remember once you're in and the bit snaps of it's back to the start
Yours sincerely Ruud