Sandhya - years ago when my daughter was young, I was a student too. It can be done - with organization of your time and cooperation from your husband. When your child is awake - you know you cannot study - so, you will need cooperation from your husband so that he can take over playing or feeding your child when he comes home so that you can spend some time studying. You also need to organize what you are going to accomplish in your study time so that you make the most of what you got.
Hope this helps - it is not that hard believe me, been there, done that!!!