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After being laid off in 2010 (after 14 years), I returned to college full-time to finish my degree. Now, as I approach graduation, I am considering home ownership. After graduation does FHA require me to work for 2 years before I can qualify?
Nope, If you can prove you were going to school to obtain a degree to work in a specific career or better yourself in a career you were in previously that will suffice.
Ussually they will want a mininum of 6 months of paystubs at most lenders to qualify in this scenario, but that sure beats waiting 2 years.