you really have to be honest with yourself and accept the fact that its going to be way more than you originally thought. I just paid 750 for the trans and motor mounts, vital liquids, and the driveshaft. There is a hell of a lot more than that I have to get, including headers, radiator, and all the nickle and diming things. I say get the motor and trans, throw it on craigslist or ebay and make a profit! I paid $4000 for my LS1 and t56 setup with about the same mileage. Take that cash and put it into your L28et. A college budget isn't going to get this done anytime soon. I bought my z while in college about 6 years ago and I just started working on it last year. Tho I also promised myself to NOT cut any corners and do everything right!
Let us know what you decide!