Yes, I instruct part time. I am in my last semester at college. I go to school Monday - Thursday, and freelance instruct at my local airport on the weekends. I have clients that have their own aircraft, and others that rent an airplane from the airport. I make more money than a CFI at a flight school because I charge my own fee and keep every bit of it. You can freelance and be successful if you know how to market yourself. In addition, you will be building your flight time and gaining invaluable experience that you cannot get anywhere else but by instructing.