Frankly, the idea that local events are a pillar of trip planning is a bit glossy for student reality.
What cash flow does it change for me if an event causes accommodation prices to explode, making the destination unaffordable?
For a scholarship student, even the most tempting festival becomes a financial constraint if prices double, like when the Festival of Lights in Lyon makes the city unmanageable without breaking the piggy bank.
The real question is: can I afford it, period.