You are not their friend, buddy or therapist and nor should be their employer, supervisor or subcontractor. I believe in religiously avoiding having any sort of dual-relationship with my students if humanly possible. I am their teacher and nothing more. Being in any type of employment or social situation with a student is undesirable as it creates the potential for a dynamic that "no good shall flow from"--avoid them altogether and you'll both be happier.
Example: A fellow professor hired a student (and their team) to paint her house. The professor was unhappy with their work. The student later claimed that the teacher retaliated by giving them a low grade in a class.