Use a roll pin that fits snugly into the hole left by the broken stud.select the biggest drill bit that will go inside the roll pin,and the fact that the roll pin is hardened,means you can drill the pilot hole dead centre,to the full depth of the hole.Obviously,if you can fit the workpiece into a drillpress,so much the better,but lots of studs are on inboards and sterndrive units,and outboards,making it impossible.If you then enlarge the hole using slightly larger and larger bits,you keep the hole drilled true to the original position.Lot more accurate than centre punch,because usually the broken end your drilling is not flat.Some people may find this tip helpful

