I do get TONS of reading and sleeping done...the language study is harder, as I need more quiet for that, I typically do that in the language lab since I have to log hours as a requirement for the classes anyway...I try not to sleep as much with the way that my schedule is..I'm in class most nights until after 7 and I take an 815 train home, so sleeping then makes me wired and not able to sleep when i get home.
The commute isn't terrible...it is expensive, not an expensive as NYC housing, of course. I've been doing it for 4 yars and I'm ready to get off of that LIRR train and into the city.
It is also relatively quick if you're going to Nassau county and not Suffolk, like me. As far as waking up for your stop, fortunately I'm at the very last stop on my line, so I don't have to worry about missing it. I've been woken up by the conductors more times than I can count though.