I had significantly more free time (or at least HOME time) as a college and working student than I did just working a full time "real" job. It depends on the college you go to I suppose, and where you live in relation to campus (I never lived on campus, always in a house).
I certainly never rolled out of bed in the afternoon, but then I suppose that depends on ones partying (I didn't) and study habits (not much of those either...and yet I did exceptionally well in school,

).
I had a "schedule" but it varied day to day. Each week Monday would be the same as the next, but Tuesday was different than Monday even though Tuesday was the same each week, and so forth. Some days I had morning classes, some days evening classes. Personally I think as long as the pup is kept to a "schedule" of same time feeding and potty breaks, give or take an hour or so, it's ok if Mon/Wed you have puppy playtime in the AM, and Tues/Thurs (I didn't have Fri/Sat classes) you have puppy playtime in the afternoon/PM. I think it makes for a better rounded dog in the end, and they don't get so bent out of shape when the schedule changes one day.
Schedules are good to an extent, but I find that pups are much more adaptable than one might believe.