Your first priority is your education, specifically the field you are hoping to find a job in.
I definitely understand your frustration and wanting to be close to your family. In my junior year of college, my father was diagnosed with prostate cancer and I was 3 hours away. I decided the best thing would be to go home as much as possible, but to also stay focused on school because that is what my family wanted as well. The most difficult thing is being emotionally drained that close to home and constantly in the mix of things. You have to ask yourself if you can handle being that close to home and not get too involoved.
At any rate, I do not suggest taking time off unless it is absolutely necessary!