Can my child born in the UK in 2001 qualify for Indefinate leave to remain when she is 7 years old ?

I currently have leave to remain as a student and have lived in the UK since 2000. I come from a commonwealth country. Someone advised me that children born in the UK become eligible if they live in the UK for 7 years. The homeoffice website has information only for eligibilty for British citizen which is 10 years for children born after 1983. It does not provide information for eligibility for indefinate leave to remain. Please help.