Soilarch,
I am an FFL-Dealer -01 license.
Not sure where (what state/city) you are located in.
Someone menitioned a $100K startup fee, Not here in Vermont. I don't have that kind of money. I am a kitchen table dealer, have been since the early 1990's. Paper work happens in about (6) weeks from what I remember. $200 init. fee---> license good for (3) years, then $90 every (3) years after that.
I am located in a house that I own ( ie. permenent location) that is in a small town w/o any restrictions prohibiting me from operating from this location.
Again, someone in this tread menitioned a FFL-Kit. That's how I did it years ago. Kit contains forms, bound book and contact numbers for distributors/suppliers. Kind of a no brainer approach.
The one thing you mention that sounds like a show stopper is the fact that you are a student, does this mean that you live in a dorm on campus or in a rental situation? This will be the big concern.
Something else to consider: Once you have your license, you will be hounded to death for price quotes from every friend, relative, co-worker, hunting partner you can think of. Comes with the territory.
Excuss the long response.

GAO