I did a 1 year course at University after I had my two kids. It is SUCH a different experience studying as an adult compared to when you're straight out of school. What I found was that I WANTED to learn, whereas in my twenties all I wanted to do was going to the pub and fart around (which is just about all I did in my younger Uni years). Also, I found studying surprisingly easy; I was older, came in with a lot of life experience, that perhaps doesn't seem relevant to the course, but it made studying easier all the same. I also found it was much easier to set aside the required time to study, both because the course was on a subject that intrigued me, but also because adulthood had made me more structured and conscientious.

I think that if you would have liked to do the course without being in your present situation of being made redundant, you should go for it. That would mean you have the drive and the interest to complete it, and probably complete it well. But if it's something you would do because you feel you have to, perhaps you need to see if there are other venues to explore. Good luck with your decision. :)