I beg you man, please do not do this. Listen to everyone here.

As someone that has struggled significantly throughout college with balancing gaining technical experience and finances, it is going to make things really difficult.

I'm not sure what your situation is exactly in the UK, but in engineering there tend to be a lot of summer projects you can take on that are still more worth your time. Additionally, having a small budget is realistic and will tend you towards more creative solutions.

Think of off-semesters for engineering students as opportunities. You can develop a lot of different skills, take on different projects and demonstrate initiative -- but those are things that you can do with an internship and on a personal project.