My experience is with work rather than study. I'm working every Friday at home with a two year old, and it's seriously tough. She's very demanding and takes up a lot of time, there are times when it's hard to take an important phone call or complete an urgent task. I remember when she was a baby she'd lay on her mat, or sit in her swing, or sleep, or quietly cuddle and have a feed. If I had to choose I'd study/work when she's younger than now.