In a way, I am in a similar situation to you maxialphas, but without just without a family of my own (still living with my parents!). However, I am currently supporting my parents financially due to my fathers illness.
By day I am a freelance graphic/web developer (4 successful years in the industry) and also am just about to go into my second year of my digital media degree. Luckily for me, I have got welsh grants behind me and also my first year was free due to the fact I started a year early. However, I did take out the student loans due to the fact that they are a lot more cost effective than getting one in the "real world" later on in life - I have never spent a penny of any of it!
From my experience, to work for yourself in the creative industries, is not just a 9 to 5 job, and especially when it is also your hobby/passion, you start to feel that there is no end to the work. I absolutely love my job, but sometimes you feel overwhelmed by it, and somehow need a release. Now the problem I find is where do you get that release from when what you do everyday is also your hobby?
For me, I am just starting to get my wings so to speak, and have recently completed my trial flight, and loved every minute. I am planning on building up the student loan to pay for my flying lessons, and do it for the sheer pleasure of it!
My advise: Always keep something as a hobby, but do both - live is for living!!
Hope this helps.
V