I'm all for collaboration and helping those who help themselves. Doing both elevates the profession: collaborate rather than competitive, a hand up for the person who does take the initiative to get it together to become competent is fine. Even with patients, though, we never want to enable (and that can be a fine line that's hard to see). Enabling leads to reduced functioning, in patients and in nursing students- not the end we want to work toward.
I would not consider it kind, helpful or good for the profession to carry someone who's just plain not taking initiative. Someone on this thread said "you can't carry her through NCLEX", and I think that's probably true. What if on some outside chance your group actually achieved that somehow? She got through on your good graces-what then? My guess is a person who is in the habit of not taking care of the details and not showing up on time is not going to be good for patient care.
If, as some are suggesting, she would use help to develop better habits/work ethics, then it could work.
Another way to think of it, day to day it can feel like we are just trying to make it through (the next test, graduation, NCLEX), but you are also trying to develop yourselves as the best nurses you can be. Preserving that is also "right" because it works in favor of patient care. Offering a hand to other students has to be balanced with learning as much as you can while you are in school.