I am also a student and have experienced 3 unstable exits....the first 2 were awsome...I was doing step exits and kept pushing off the strut..so I accidentally did back loops on exit and recovered beautifully by relaxing and arching....
My third unstable exit was a back loop right away...followed by more backloops....then I was looking at sky and knew I was on my back...so I tried bringing an arm in but screwed that up...then I began frieking out....my jumpmaster said at that point I began spinning on my back.....I tried to look at my altimeter but the wind must have blew the numbers off....I knew I was still on my back...but I had no altitude awarness....so I followed my pull rules and pulled on my back....yes, it hurt, but I lived...
When I landed my jumpmaster gave me a big hug and said he was proud of me....I could not understand that...I felt like I had screwed up my whole skydive....I didnot wave off and I was pissed at myself....he said he was proud of me for pulling on my back because he knew at a certain point I was in trouble.....and he as a jumpmaster has seen students pull way too low because they were afraid of pulling unstable....yes, I failed that skydive according to my progression card.....but I proved to myself that even under a complete panic I will still pull and pull on time.....
The biggest lesson I learned as upjumpers have already told you.....RELAX...RELAX...RELAX.....
You will do great!!!!
J.J