* Financial Situation: This is the biggest hurdle. Can you realistically cover your living expenses, tuition, fees, and books with student loans *including* the cost of housing? Adding housing costs to your loan significantly increases the amount you'll owe after graduation. Carefully calculate the total loan amount and the projected monthly payments after graduation to ensure you can afford it. Federal student loan limits exist, and exceeding those might require private loans with potentially higher interest rates.
* Loan Eligibility: Your eligibility for student loans depends on your credit history, income, and other factors. Adding housing to your loan application may affect your approval and the loan amount you're offered.
* Academic Performance: Are you confident you can maintain good grades while juggling the stress of full-time studies and potentially a part-time job (even if it's just to supplement your loans)? If your grades suffer, you risk losing financial aid.
* Job Market: Consider the job market in your field after graduation. While focusing on school is ideal, some experience (even part-time) can be beneficial for your resume and future job prospects. You might want to weigh the benefits of part-time work against the added stress.
In short: It's *possible* to quit your job and focus solely on school, provided you can secure sufficient student loans to cover all expenses, including housing, and you're confident in your ability to manage the financial burden and maintain good academic standing. But it's crucial to create a detailed budget, explore all loan options, and realistically assess your financial and academic capabilities before making this decision. Speaking with a financial aid advisor at your college is highly recommended. They can help you understand your loan options and create a financial plan.