If you are able to swing it financially…I say do it!
I had more time to ride in college then any other time in my life. Granted, I was not pre-med or anything, but I found it very easy to maintain good grades and go ride between classes. (or schedule classes in blocks and have half a day to ride). Now that I am in the working world, it SUCKS not being able to get to the barn as much.
Take advantage of the time while you have it.