Contrary to many peoples’ beliefs, you cannot repay sleep debt.
For example, sleeping 12 hours on the weekend will not replace the sleep lost from only getting four hours on the weeknights.
These type of sleep schedule variations cause grogginess, depressed mood, attention and concentration difficulties, and long-term sleep difficulties.
If you are going to stay up late one weekend night, it should be Friday. That way you can get back to your normal schedule on Saturday and Sunday, and be ready for Monday morning.
Source: Bulboltz, W.C., Loveland, J., Jenkins, S.M., Brown, F., Soper, B., Hodges, J. (2006). College Student Sleep: Relationship to health and academic performance. In College students: Mental health and coping strategies (pp. 1-39). Hauppauge, NY: Nova Science Publishers, Inc.