Is it ok to only have 8hrs of down time a day?

I am a university student who feels like her life is getting out of hand as I can't seem to get a grip on my life. I was wondering since I do not have much things to do outside of school, working out, and house chores if I should only give myself about 8hrs a day of time to relax/sleep a day? so this means that I would be getting up at 6am and not stopping doing everything I need to do in a day until 10pm at night. 

Here is how my average school schedule works out to be as all of my classes online. Most days of the week I have classes that fall between 7am and 4pm then after that I go workout, do chores and have dinner all before 8pm. It is the hours between 8pm and 10pm that are spent strictly on homework most nights or on non school nights it is spent doing more chores and cleaning. After 10pm it is time to get ready for bed and then either relax or sleep as I have to get up again the next morning at 6am. 

Is this a reasonable way to schedule my daily life? On the weekends that is when I run errands and do the bulk of my study and chores.