(UK) What should I do with this money I've suddenly got?

So, my interest free student loan and bursary has (finally) come through, and it's ended up being a lot more than I expected. I've been working while I've been at college the past 6 months, both to live and save since I wasn't sure if I'd get anything from them at all.

I've managed to save up enough money that I can live frugally until the summer where I can get a full time job (got one lined up) which will then go towards next years living costs.

I don't need to pay tuition fees, all I need to do is live, but I've been handed this rather large amount of money (about £5000, with ~£2000 on the way) which I don't know what to do with. I read somewhere that there is a way to invest your student loan money which will result in a profit of some kind but I'm really not that smart when it comes to money. I mean, I can save, and I can live frugally, and keep track of my expenses, but the terms and phrases they use in different savings options really confuse me!

Any ideas?

edit: I've also got me this cushty wee deal where I don't actually pay any rent at the moment, and that looks set to continue for a year or two more. My main expenses are car and food.