Too old? Absolutely not! I, too, am 38 and in nursing school. I am divorced and have a daughter and I am doing it. I spent the last 15 years of my life running a family business. When we decided to sell it, I realized I need to do something to benefit me. In fact, I think age is a plus since we have experienced life in varying degrees and perhaps have a broader perspective on things (no offense to youthfulness). Go with what you feel is right and what you want to do. It will be good for your children to experience academia with you-perhaps it will spark the desire for higher education in them as well.