Web server hosting..

Hi, I have a Dell Web Server PE1750 Xeon(TM) CPU 3.06GHz 1.00gb of Ram running on windows 2003 server web edition. I’m trying to host websites for students. I want to be able to assign certain amount of MB’s for each student and have control panels with file manager, uploads and things like that. Can i do that with win2003 web edition or do i have to buy any other software to integrate with it..

Thanks

I will apreciate any help!