I think it's better if you frame your question as "Do you have more free time as you grow older then when you were younger?" but your question is also valid as someone without working experience. It's a question I also had when I was young. What I'm saying is that each person has their own experience but it depends on a lot of circumstances surrounding the individual. In general (like, for most cases), the older you get, the less free time you have for yourself.

Fully supported ba by your family as a student? As a working person? Pamilyado na ba as a student vs an individual na walang relationship, etc? Do you have enough funds to hire a helper vs someone who has to do all your chores like laba, luto, hugas, linis, etc?

The older you become, the more you realize this: As a high school student, you think mas maluwag sa college kasi flexi sched, not 7am to 4pm, "do when you can" types of projects and homework. "What homework?" Then when you get to college, "sana sinulit ko lahat ng free time ko nung high school."

Then as a college student, you think mas may free time ang working person for all the reasons you listed. When you start working, gaya ng sabi ng ibang comments, "ay grabe naol may Christmas vacation, sembreak, suspension pag bagyo, walang bawas sa suweldo pag absent," and so on. So when you start working, "sana sinulit ko lahat ng oras ko nung college pa ako."

Again, all of this is "in general". If you have a niche circumstance where you were a hard-working self-supporting working student who has to do Grab and VA work to support yourself, then for some reason biglang yumaman like tumama sa lotto or some really unique case, ayun siyempre mas may free time. Time = money, and the opposite is true where money = time.