Changing careers to video editing

Hi Group,

I've done some research and found there are many different ways to making a career as an editor. But, I would love to get some perspective from people who are actually in the business.

Here's my background:

30 yrs old. Live in NY. BA in English Writing. Worked at various companies outside of the entertainment industry for the past 4 years. I've made a few short films that I self-financed and worked on a few student films as an actor and PA. My editing experience is limited to the short films I made and oddly enough, a couple of holiday videos I helped make at the companies I worked for. I was recently laid off and I'm at sort of a crossroads.

Here are my concerns and thoughts:

1. I could go back to school, preferably an art school like SVA. But as you know, it's expensive and I'll also be taking classes not related to editing.
2. I could attend an editing workshop to help build up a reel and skills. The Manhattan Editing Workshop looked promising, but I would love if any of you had some feedback.
3. I could buy an editing workstation and build up my reel through low-paying / free freelance gigs.

Option 2 seems to make the most sense to me.

The Reel:

As I mentioned, I have a few short films completed and a bunch of footage from unfinished projects. The quality of these projects are amateur. Would this amateur quality affect the perception of my reel even though, for arguments sake, it's been edited wonderfully.

Thank you for all your help.