The student pilot stated that he departed from a local area airport and remained in left closed traffic for landing. He completed the before landing check on down wind and lowered flaps to 10 degrees. The pilot turned base, lowered the flaps to 20 degrees, turned on final, and lowered the flaps to 30 degrees while decreasing the airplanes airspeed. He continued on final approach and the airplane crossed the landing threshold at 50 feet mean sea level. The pilot flared the airplane and it touched down on the runway at about midfield. The airplane bounced, touched back down on the runway, and veered from right to left. The pilot lost directional control of the airplane. The airplane went off the left side of the runway into the grass, collided with an embankment, and subsequently came to a stop. The pilot stated he did not experience any mechanical problems with the airplane. "He flared too high, the airplane bounced and he lost directional control of the airplane."