I may be unusual, but I have more free time in the summer, while working full-time programming, then I do during the school year. But maybe that is because I'm taking 17 credit hours (5 CS classes, all upper division) at once. I probably put in 60-80 hours a week, no exaggeration.
I went to school full time (min 12 hrs) and worked full time (min 40 hrs, sometimes 2 jobs) the entire time I was in college (hey graduated with only $7k in debt though!). There is no way I'd have been able to, let alone wanted to put in 60-80 hours for course work (still graduated cum laude, 3.5+ gpa). Either you're in courses that you shouldn't be or you're doing too much "extra work."
You may be right. This is the last semester of my Senior year and I'm trying to finish my undergrad up so I can start on my Master's next year. My Junior and Sophomore years weren't as bad school wise, but I was working part-time during both of them, so all in all I was probably still busy about 60-80 hours a week. I guess my point is that I've gotten used to being really busy, and working only 40-50 hours a week won't be a problem. Sounds like you're used to being busy as well, working full-time all the way through school.