I agree with Michael. Don't do it. Budgies are very difficult to hand feed first of all. Secondly, hand feeding any bird is not something to jump into lightly. It's very easy to kill a baby bird. The formula has to be just the right temperature or you will burn the birds crop and kill him or if it's too cool it will not leave the crop and will sit there and go bad and cause infections which can kill the bird. You have to know just how to feed the bird with a syringe so that you don't aspirate him. You have to weigh the birds twice daily on a gram scale and know what to do if the bird is losing too much weight. You have to learn how to properly wean a bird through abundance weaning and be prepared to have lots of baby birds flying around because they have to fledge. Third, what will happen if the parents won't take care of the babies (which often happens)? Are you prepared to hand feed tiny chicks with a dropper every hour to two hours (even through the night) for a couple of weeks and every 4 hours after that? Are you prepared to take baby budgies to the vet if there is something wrong? The vet can get expensive. Fourth, after all of the effort you put in you can expect to get paid about $5 per budgie or less. Hand fed budgies might get you $15 or $20. That's a lot of hard work for very little money. Also, is your budgie hand tame? If you put two budgies together and try to breed them, you will lose their friendship. They will only want to be with each other. Lastly, it is not easy to breed birds in the first place. They require special circumstances and care.
I'm really not trying to be a downer but a student trying to breed and raise any kind of bird is a bad idea. Just enjoy your budgie, be his friend and if you still want to be a breeder later in life, learn how to do it properly by working at a pet store that hand raises birds or volunteering for a breeder etc. Good luck.
"I bet the sparrow looks at the parrot and thinks, yes, you can talk, but LISTEN TO YOURSELF!" ~ Jack Handy ~ Deep Thoughts