JerryTerry, I feel your pain. I'm currently a second-year CS student. To make matters worse, I have this crazy delusion (starting last month) that I can participate in Ludum Dare each month as well.
BUT. Looking at my current classes and everything else in my life right now, I've come to the conclusion that I'm not going to magically get some extra time at some point. Therefore, I am making a excessively late New Year's resolution to make time for hobby game programming and music stuff at least once a week.
Back in December, I think, I had the crazy delusion of attempting to participate in a JHCompo. Even though I was finishing up an assignment at the time and I was only able to listen instead of contribute, I am still very interested in creating music, regardless of my current abilities (or rather lack thereof).
Regardless of what assignments I have to work on, I WILL schedule things accordingly to get good grades, take care of whatever life stuff needs to be taken care of, and spend a bit of time on music. I will have something submitted for ORC 138, regardless of the fact that I am pretty much a complete beginner at music.
(In the entirely likely event that I am the only one to submit anything, I'll punt the original submission to someone else.)