I honestly don't think you can afford to have a turbo in your present situation. It is not a bolt-and-forget affair. If you're talking about being a student and needing a reliable car to get to classes, have fun on weekends, go on dates, whatever, and mixing "goes fast as heck" and "cheap" in the same sentence as well, then I don't think you really understand what it takes.
Nothing personal, but it seems to be a common misconception, especially among people who don't have turbos themselves in their cars.
I would highly recommend that if you can afford the $10,000 needed for a WRX engine swap, then you can afford to trade in your car for a new 2002 WRX and take the small hit on the trade-in. You're a student -- do you really want to drive around watching your gauges all day making sure your grafted-on turbo or spliced-in WRX wiring harness is working right? Or would you rather have fun talking with your friends in the car? No matter how well the swap, or turbo install, is done, you always know in the back of your mind that your car has had something major done to it, and it will never be quite the same again.
Keep that in mind. And oh yeah, I do have a turbocharged 2.5RS. I wouldn't give it up for anything else in the world, and I do drive it to work as well as on the track, but my peace of mind (which is worth untold amounts of money to me - is it to you?) comes from the fact that I also have a 1996 Impreza Outback wagon -- bone stock and with a 2-year extended powertrain warranty, back in the garage. Can you say the same thing about yourself?