There is nothing wrong with being unemployed if you are a full time student. I imagine that you might not want to work for someone who thought otherwise. Now if you are only taking classes part-time I might wonder what you were doing with the rest of your time and probably wouldn't too impressed if the answer was racking up style points on Call of Duty.
At age 38 though, I'm assuming that you have means of support for yourself (and family if you have one) if you quit your job and concentrate on finishing your degree and obtaining your ratings (expensive), and then how do you plan on making a living until you pick up that hopeful CFI job?

USMCFLYR