i built my civic while i went to school and worked. keep it, work on it when u can and spend money on it when u can. dont stretch ur budget and dont work on it when u have other shit to do. Took me a few years to get my car to where it is now, but it was worth it and i learned a lot.
I highly doubt owning this car is keeping you out of school, and it never hurts to have a healthy hobby.