I can only speak for the MFA in Screenwriting program at UCLA---
The workload is generally up to you. Your first quarter it's a little more set, but after that you can take the minimum of 12 credits or up to 30 or more (ha).
Scheduling isn't super flexible if you're taking a lot of classes, but with a lighter schedule you can probably only come to campus 1 or 2 days a week.
Some of my peers only have a workshop and an elective (which can vary in workload), but if they're both on the same day, they have classes for 6 hours and then a 6 day "weekend" (great for those working other jobs). You don't get a lot of flexibility in your writing workshop, but can pick whatever electives that work best for you.
You can go the opposite way - a la me - and take 2 writing workshops (a feature and tv pilot), an elective, TA, and intern. I was on campus or at my internship 5 days a week and only had Sat / Sun and a couple of mornings to write, but that worked for me. Also set aside 2-3 hours per workshop to read your peers' material and give good notes each week.
Also -- you might be doing a lot of outside research for your scripts. I did a historical piece and every free moment I had I was reading books, watching films from that time period, and watching modern tv shows set in that decade.
As for academic papers -- that's pretty minimal in my program. Easier CMS classes (film / tv theory) usually only have a 30 min presentation and a 10 page paper due at the end of the quarter. A harder CMS class might have a 10 page reading response due every week - but again, you get to pick which electives you take.
Hope that helps a bit?
Some writers work best with a lot of free time to ponder and think and write and rewrite. Others (like me) like being busy. Both options are possible.