Should i end my friendship to a party friend?

Do you think I should be friends with someone who only cares about partying, drinking and fun and persuades me to go out and send him music, etc when I'm someone who failed college twice due to difficulties focussing and because I partied too much and now am broke and desperately trying to focus and get my life together again? And this person has already completed university and has a safe job and career while I'm still looking for the right course and trying to get a degree in something, yet when he's bored or done with work, he'll try to get me to party with him, not respecting whether I can afford to timewise or whether it is a good idea for me. I do like this person a lot but he's just extremely reckless, creates drama and confusion in my life. :/ He always tries to help with tips and advice but for some reason the effect still is that I lose focus on my duties. He's also unsympathetic to his negative effect on me but otherwise really fun and nice.