Baph

Personally, if I were you, I'd keep it.

From your post, it doesn't come across that the bike is using money that you could/need to spend elsewhere. Uni costs will be met regardless of you having a bike.

You also do get some usage out of it, commuting & weekends.

As you bought a K8, I assume you bought it brand new, and it'd be a shame to take the hit in depreciation as it's now second-hand.

Keep it, enjoy commuting past the traffic, and have fun on the bike during the holidays from uni.