Should I invest my student loan money while I’m in school?

Hi! I’m currently in university as a mature (mid 30's) student in Manitoba, and I am in a position currently where I’m not living off of my student loans. Basically my tuition gets paid by student aid and then the rest comes to me, and I’ve had it sitting in a savings account building a bit of interest every month. I don’t have much savings at the moment but I’m getting by. I’ve been wondering if there’s more that this student loan money could be doing for me while I’m actively in school and not needing to make payments. I’ll likely be in school for another 3-5 years. Should I think about investing some of it? I have no experience with investing money so please explain to me like I’m 5, including possible risks and consequences I should consider. Thank you!!