According to the student pilot, he was on a cross country flight from Daytona Beach, Florida, to Vero Beach, Florida, to Melbourne, Florida, and back to Daytona Beach. Upon approaching Melbourne, Florida, the student pilot was cleared by the Air Traffic Control Tower to land on runway 4. During landing the airplane bounced several times, ran off the end of the 3000 foot runway and collided with a ditch coming to rest inverted. The pilot reported that executing a go-around would have prevented this accident.