Applying for ILR as a Student Visa holder

I am a student visa holder from Hong Kong with a British National Overseas passport. My Student Visa will expire when my course finishes in September 2009, but I would like to apply for indefinite leave to remain in the UK.

I believe that I meet all the criteria - I arrived here in September 1998 at an international boardiing school and have been here ever sinece, with no convictions or long term absences. However, I do not have a full-time employer, as I am still currently at University completing an undergraduate course.

To cut a long story short, will my application be affected by the fact that I do not have my own permanent UK residence (currently living in student halls of residence) and the fact that I do not have a full-time employer?

Thanks in advance.

See also Chapter 18 - Long residence.