Advice for Returning to School After Long Break?

arohann asks: "A few months ago, I quit my secure, well-paying (but boring) job as a software engineer in India and have been applying to graduate schools in the US, Canada and the UK. My aim is to get back to computer engineering studies (my undergrad major) as a grad student. However, after a 5 year break from academics I'm not sure about my decision and could do with some advice from Slashdot users." "Here are some of the things that I'd like to know:

1) Typically, how do graduate admissions officials view work experience? Note that I haven't been working as a Computer Engineer but as a Software Engineer.

2) What are the differences between graduate studies at the Masters level in the US, Canada and the UK? I already know a bit from what is available on the websites, so I'm looking for some deeper insights.

3) I'd like to hear from people who've done this, i.e. quit their jobs and gone back to get a higher engineering degree. What problems did you face and what advice do you have?

4) People who've studied in the UK at the MSc, MPhil, MEngg level - how did you fund your education? Were you able to get things like teaching or research assistantships and how much of your costs did these cover?"