11 sec. build cost?

Geez, just run it the way it is. You'll be amazed at how much you can do with it to improve it.
If you're going to bracket race, that in itself is a learning experience. You don't even want a fast car for that. A lot of learning to do, so a good car is essential.
I would do the 8 1/4 rear, though.
Go get a good job with that new degree. Cars are secondary to what matters.