I think you're just mixing up terminology. When you finish college, you want to stay in the AKANG, just do more of it, is that what you mean by "active duty?"

I took it to mean you wanted to leave the ANG and go over to the active air force.

I can't really recommend it one way or another, some people love it some hate it, if it sounds cool to you then you'll probably like it. I love the mission of the C17. Only you can say if you can hack it while going to college, but it does seem possible (as liftr mentioned). And you can probably fly as much as you want during your school breaks, which will help $wise. Plus, knowing how much booze costs in AK, getting short trips to Cally and loading up on cheap booze is a wise budgeting move. Trust me on this--you can carry a lot of beer in a C17.