I work in a public school district, making this my February break. I don't have to go to work this week! This is a pro. I am a grad student taking 3 classes while working full time. My vacations are spent entirely on homework. This is a con.
I get to work on my homework in this coziest of spots with the most delicious of chai teas. This is a pro. Possibly two pros if you count the chai as its own pro.
Overall, the situation nets at least one pro. Life is good :)