Running is fine in college, when yes you have time for all of this stuff. I get into work at around 7.30 and leave at around 5.30-6. Get home at about 6.30. Then either go out with friends for a meal or make something at home.
If i had to throw in a hour run and some drills on top of that suddenly its 7.45, even closer to 8 by the time i've showered.
I was training hard and i was training fast, you can't expect to run quality and not get tired..e.g hard track workouts and gym sessions. I ran a solid 800m and actually qualified for the olympic trials. But was not good enough to take it to the next level. I really enjoyed the time i was running and got great friends and pleasure out of it. Running paid for my college and was a great experience.
But there comes a time in life to move on. Even if the OP makes it i doubt he will run much quicker than the actual qualfying time unless he was the most injury riddled man in college ever and never got anywhere near his full potentional. Cross countries times are irrelevant when selling your story as there is so much variance between courses and what not. He had 4 years to prove himself in college and hasn't really done that.
So there is 3 years being poor and trying to make a goal which doesn't take you anywhere (unless you qualify for the team). you are devoting a long period of your life to something which isn't going to do much for you. Do you still want to be living at home when you are 28 because you are a 2.25 marathon runner. Do you want to be 28 and when you start your first job be in a grad position with 23 year olds?
My suggestion would be grad school. At least this way you can study and have good hours in which you can still train and train hard (doubles, recover properly, stretch, etc. You are putting all your eggs in one basket otherwise and its not really that great a basket.