I have done it and have no regrets. I was with my previous job for 5 years and I decide to leave because when I was accepted into nursing school, and they would not work around my school schedule, so I decide to leave. I will be graduating next month.
If you are in the position to leave your job to go back to school, then by all means step out on faith. I don't know what your situation entails, but I still live with my parents and I am blessed that they have supported my decision to leave my job so I can go back to school to pursue nursing. I am not married and don't have kids. The only bills I have is my car note, car insurance, cell phone
and debt payment. I know everyone does not have the option to just up and leave their job like I did.
I still did part time work (work at a fast food restaurant for 3 months, babysat a college friend's daughter for another 3 months, and I currently work at an endoscopy center), but at least it was around my school schedule. If you want it bad enough, you will find a way to make it work.