Another student said "Apparently it was part of a society initiation. He got really drunk and they... didn't realise he had stopped breathing until it was too late."
Farmer's father, Jeremy, released a statement quoting a friend of his son.
It said: "You have undoubtedly proved to each and every one of us that there is such a thing as 'the guy who has it all' - the intelligence, the humour, the looks and the personality. Not many people can challenge a position like that. Thank you for all the memories."
The statement added: "The family would like to thank all the staff at the hospital and university who have supported them throughout this time."
Professor John Wilson, director of Newcastle University Business School, said: "It is with deep sadness we can confirm the death of one of our students and our thoughts go out to his family and friends at this difficult time.
"Whilst he was just starting out on his studies and only with us for a short period of time, he showed great academic promise and was well liked amongst his fellow students."
A university spokesman added: "We are deeply saddened by the news of the death of one of our students and our thoughts and sympathies are with the family at this very difficult and distressing time.
"In close collaboration with our students' union, we take a very hard line on all activities and behaviours that may constitute a risk to the safety of our students.
"Both the university and the students' union have strict codes of practice and policies on safety and responsible behaviour, and we take every opportunity to ensure that our students understand the importance of safety matters."
A spokesman for Northumbria Police said: "The investigation into his death has been passed to the coroner and we are assisting them with their enquiries. We are also supporting the man's family at this difficult time."
