I've started studying again after about five years of IT work. Its been a mixed experience, especially the financial side of it, and also to marshal the motivation to keep going at times. I'm on a study project that will take me seven years total, but once done I will (hopefully) have a secure high income job as a medical doctor.
So, I'm moving away from IT to deal MORE with people. I found the most enjoyable part of my old job to be working with the users of the projects we implemented, and especially holding courses and design workshops.
As for dealing with the financial side of going back to school - this is hard. Quite simply hard. But also surprisingly rewarding at times as well. I now find I'm proud I can survive on much less, and also not having access to all the latest kit made me aware of how addictive it can be to buy things. It's almost as if it provides a kind of escapism, always buying a new gadget. Now cannot, and it's okay.
The biggest problem I feel though, is that I can no longer keep up with my girlfriends lifestyle. Her life is more like my old, with more travel, going out with people and buying things. Mine is locked to my studies, and I cannot afford expensive pastimes like going out for dinner allot.
At the same time, to immerse myself in the science courses I'm currently taking can be very rewarding, and its good to have a project in life with a definite goal down the line to work towards.
But have no illusion this is easy - a solid job you know well with a high income is very very comfortable. But sometimes you have to move out of your comfort zone to progress I guess. I'm mostly happy to be away from IT.