On January 14, 1996, about 1530 central standard time, a Cessna 152,N68172, registered to and operated by Douglas Aviation, Inc., was substantially damaged while landing at the Olive Branch Airport, Olive Branch, Mississippi. Visual meteorological conditions prevailed at the time and no flight plan was filed for the 14 CFR Part 91 instructional flight. The student pilot, the sole occupant,was not injured. The flight originated about 5 minutes earlier. The student pilot stated that the accident occurred on his third full stop solo landing attempt of the day. The student's CFI who witnessed the accident stated that the airplane touched down, bounced, then landed on the centerline of the runway. The airplane then veered off the left side of the runway onto the grass and came to rest with the nose landing gear collapsed.