My older 2 girls both did CPs. They didn't take classes, though, so I can't help you with that part. They didn't have a typical number of hours, each week and each schedule was different. They worked a LOT. Both of them went home with some money saved. They could not eat CS at the parks, you can't eat on stage in costume and there wasn't time to change (and CS doesn't have CM discounts in some places). There were plenty of off-stage places for them to eat, but they mostly brought their own meals.
There are buses to get them around, but both of mine brought their cars. They networked and were able to have their gas paid for by hauling friends to WalMart or the mall or whatnot.
The apartments were more apartment and less dorm. They did have inspections (LOVED THAT!) and if they failed, I believe they got one more shot. Both DDs were in that uncomfortable situation one time each.
There are rules and if they are caught breaking them, adios. One DD lost a roommate, packed and out in 2 hours. You'll hear stories of them getting by with things, but I never felt uncomfortable, per se. My oldest has some social issues (Aspergers) and she did NOT do well with her first set of roommates. They were into porn and "hooking up" and she paid the moving fee to get out of there. She was much happier. My other DD is a social butterfly and had no problems at all. She wound up extending with one of her roommates and they moved into a 1BR together that worked out really well.
I tell people that the next best thing to Mom is Disney. I never worried about them. I met their managers and they were wonderful mentors for them, giving them sage advice (and, just like Mom, some they listened to, some they didn't!).
Disney also has a record card system where you earn points for calling in. It is very important for future employability to keep one's record card "clean". It doesn't have to be *empty*, but too many call-ins or lates or no-shows can be bad for you.
I do warn people that the Mouse has a powerful and heady draw and once some people work for him, he will hold sway over them forever. Some of them will even drop out of school to go back to work for him. Both of mine did and they live/work there full-time now. Happily, the Mouse also values education, so both of them are also back in school, but are supporting themselves independently. It was a huge maturing experience for them and if parents can let go, it will change them forever (in a good way!).