How long will the project take? If it's less than a week or two, take it. Anything more, you'll lose your mind.

"A few weeks."

Also, my classes stop on the first week of December, and don't start up again till the last week of January, so I'll have a bit of a break coming up.

But then the freelancing also kind of corresponds with the end of the term, and the various end-of-term projects that tend to be due.

But this term has also been rather ridiculously light on work; it's the class time that's killing me.

Argh.

Karma? poo!

If the bills are being paid, I would say no. But that's just me. I tend to be more careful with becoming too overloaded than I used to be. If you can realistically take this project without going bonkers, I would go for it, but it sounds like you have a very busy schedule.

I guess some questions I would ask:

How long will this take?

When will I work on this project? What time of day? Where can I carve the time out in my already busy schedule?

Is the payoff worth the stress and hassle?

On preview, it looks like you may have a good chunk of time. If the $$ is good, go for it I say!

Do you like the work? Will it be enjoyable?

Do you like the work? Will it be enjoyable?

Not really, but it's easy and I'm good at it.

Oooh, it just occurred to me that it might also be something I could scribble together during my particularly hatefully boring classes. Hmmm....

To me, your plate sounds overloaded as it is (going by past posts & comments), especially with end of term coming up. It sounds like you'll need that Dec/Jan break to, well, take a break. If you can get by on the money you've got, I'd say no, unless you can do it in January, when you'll have had some breathing room.