You say the only reason you want to stay in is the SLRP. Are you currently receiving it, or are you just thinking you'll try and get it when you re-up? I ask because, as you may or may not be aware, that the SLRP is only for existing student load debt, and excludes private loans.
You need to ask both what will you get out of your Guard service, and what will the Guard get out of you. If you can't manage you need to consider the consequences it could have on your future service options. If you are having issue w/ PT now, it's probably not going to get better when you add school in the mix.
I worked full time, attended school (B.A. program at a UC) full time, had a new family, and was in the Guard. I pulled it off but it sucked for 2 years. I think it burned me out on the Guard, and I very much became that salty NCO I never wanted to be. I got out a couple of years ago. I'm about to start a nursing program and there is no way I'd want to juggle all that again. Something would suffer. Maybe I'll revisit military service after school. Or not.
TLDR: Nah, probably not worth it. Get out, get your nursing. Go back in after school if you want and make that Officer money.