The flight instructor and student pilot were conducting a primary instruction flight. The flight instructor reported that the surface wind was calm as they approached the airport to land. The flight instructor stated that the student pilot allowed the airplane to be “slightly high and fast” while on short final approach, but the airplane then joined a normal descent path as it continued toward the runway. The flight instructor estimated that the airplane was 5-10 knots faster than a normal landing speed as it flew over the runway identification numbers. At that point, the flight instructor told the student to reduce engine power to idle, transition his sight picture down the runway, and allow the airplane to decelerate during the landing flare. The airplane bounced upon touchdown, ballooned, descended, and then bounced a second time before the flight instructor took control of the airplane from the student pilot. The flight instructor then increased engine power, increased right rudder input, and pitched for a level attitude to increase airspeed for a go-around. The airplane did not accelerate and bounced for a third time, this time with the stall warning horn audible. The flight instructor reduced the wing flaps from 100% to 50% to gain additional airspeed while flying in ground effect, but she noted that the airplane had ineffective roll and yaw control. She reduced engine power to idle as the airplane drifted left, struck a runway edge light, and departed off the left side of the runway. The airplane then entered an area of high vegetation where it spun around to a stop. The airplane’s aft fuselage sustained substantial damage during the accident. The flight instructor did not report any preimpact mechanical malfunctions or failures that would have precluded normal operation of the airplane.