You need to plan properly. Let me give you an example of what I did:
- I sold my condo a while back which gave me the freedom not only to relocate easily but also to avoid additional mortgage payments during school. I knew that I won't stay in this particular city so why bother stay attached to a place that will be history in my books.
- My car payments will end just before I am willing to matriculate. So no car payments during school. Most likely I will sell the car or storage it, which comes at a monthly fee. I will keep the insurance but I will suspend the license plate registration fee.
Besides that I am free to move around without worrying much.
If you have a spouse that is taking care of the mortgage and you know that you will be heading home after graduation, then it's best to plan and start making a list of expenses vs funds vs risk (job loss, getting sick...etc.)
Hope that helps.