SCHWEIZER 300C HELI PLT HAS LOW FUEL WARNING LIGHTS.

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I HAD DISPATCHED ANOTHER INSTRUCTOR'S STUDENT ON A SOLO FLT AT HOME ARPT. STUDENT WAS TOLD SHE HAD 26 GALS AND WAS REMINDED OF FUEL BURN RATE BTWN 10-12 GPH. 2 HRS 20 MINS PAST DEP TIME; STUDENT CALLED THE TWR TO STATE THAT SHE WAS 5 MI OUT INBOUND FOR LNDG. THE STUDENT LANDED ON TXWY B; DID SOME HOVER WORK AND THE REQUESTED TO TAXI TO THE HELI PADS FOR SOME MORE HOVER WORK. SHE WAS GRANTED PERMISSION TO DO SO. THE STUDENT THEN HOVERED AT THE HELI PAD FOR A FEW MINS BEFORE REQUESTING PERMISSION TO CROSS THE ACTIVE RWY AND TAXI TO PARKING. SHE WAS TOLD TO HOLD FOR TFC. APPROX 2 MINS LATER I HEARD THE STUDENT CALL THE TWR ONCE AGAIN REQUESTING PERMISSION TO TAXI AND WAS ONCE AGAIN TOLD TO HOLD. APPROX 30 SECONDS LATER THE STUDENT THEN CALLED THE TWR AND NOTIFIED THEM THAT SHE HAD A LOW FUEL LIGHT ON. SHE THEN CALLED THE TWR AND ASKED TO TAXI TO TXWY B TO REQUEST FUEL (APPROX 75 YARDS). AFTER FUELING AND TAXIING BACK TO PARKING HOBBS TIME LOGGED WAS 2.7 HRS EVEN THOUGH THERE WAS ONLY AT MOST 2.5 HRS OF FUEL ON BOARD. STUDENT STATED SHE MISJUDGED FUEL/FLT TIME. WHEN ASKED WHY SHE CONTINUED FLT (HOVERING TO TXWY B) AFTER THE LOW FUEL LIGHT CAME ON SHE SAID 'I SET THE CLOCK KNOWING I HAD 5 MINS OF FUEL LEFT.' CLRLY SAID STUDENT NEVER FULLY APPRECIATED HER TRAINING RELATED TO ACFT FUEL GAUGE ERRORS; FUEL PLANNING; AND EMER PROCS. SAID STUDENT HAD JUST HAD REMEDIAL TRAINING RELATED TO ALL AREAS ASSOCIATED WITH EMERS INCLUDING LOW FUEL. UNFORTUNATELY THIS STUDENT LIKE MOST BASE THEIR FUEL DECISIONS ON THEIR EXPERIENCES WITH CAR FUEL GAUGES AND BELIEVE ALL FUEL GAUGES TO BE ACCURATE EVEN WHEN TOLD OTHERWISE. AS FAR AS I CAN TELL THE REGS ONLY REQUIRE THAT FUEL GAUGES/LOW FUEL WARNING LIGHTS ONLY BE ACCURATE AT MINIMUM FUEL. I HAVE FLOWN BTWN 50-60 DIFFERENT ACFT AND HAVE CONSISTENTLY NOTED THAT A MAJORITY OF FUEL GAUGES APPEAR TO BE ACCURATE WHEN FULL OR EMPTY AND HAVE NO RELEVANCE TO REALITY.