The constraints are accurate. I had more information in my original reply, but I hit the character limit.

I have a little over 12 months living expenses saved (and a wife that earns a decent income who's willing to support my possible career detour as long as I pull my shit together in the next 3 years so we can pop out some kids). That's a key factor as well -- I want to have kids in the next couple of years and I wouldn't be able to be unemployed to study with small humans running around.

The new position will be 8.5 hours per day (no more no less).

My current employer isn't in the position to cut my hours (well.. they weren't in a position to discuss any changes to my hours/schedule before I had an offer).