Charlee, Homeless: You two ought to try anyway. There is no shame in failing NaNoWriMo because life suddenly jumps you with crazy busy schedules, but if you think you can participate for a time (or through the entire month but at a lower pace), you're sure to gain
something. It can be fun. It can be words. It can be crazy-cool ideas. I don't think it's possible to lose at NaNo. You can fail at the official goal, sure, but in the end if you tried for real and gave your best, my opinion is that you won.
Also, I find that it's when I am the most busy that I manage to find more time and accomplish more. I'm in grad-school too now, I have an internship three days a week, work all weekend and pretty much spend all days from 8 am to 6 pm being busy, and then I still have to do my homework during the evening, but I'm trying. This is the first year I think I might come up short of 50k, but I'm certain that by doing NaNo I will end up with a more fantastic month and more words than if I decide to step aside.