My questions:
I'm a student with a big work load and no current income. Are dues pricey or are they manageable for a younger guy?
A lot of this depends on the lodge. Our lodge is one of the pricier ones in San Diego and our dues are $225/yr. There are additional costs for your initial application, but I don't recall them off the top of my head. I have already sent out an inquiry and will get back to you on that.
Am I too young? I don't have a grandpa or dad in a lodge so I feel like i'de be out of place in a group of older men. Or would I? I guess it depends on the lodge.
You're not too young. As for the ages of the other brothers, that will vary greatly depending on the lodge. We have brothers aged 26-92. I'd estimate that the average age of the brothers who are habitually at lodge is around 40. But, don't overlook the benefits of getting to know the older brothers. They have a lot of knowledge they can pass on.
I was in a Greek fraternity at my previous college before I switched schools to attend a trade school. Are there any similarities between freemasonry and Greek fraternities?
I too was in a Greek fraternity in college, so I can definitely speak to this. There are some similarities and differences. Unlike a college fraternity, you will not be living with the brothers and you will not likely be in as close of contact with them. In addition, you will be of different ages, different paths in life, and have very different backgrounds. I want to give you realistic expectations here; it is very unlikely that you will have the same depth of bonds with the majority of the brothers in Freemasonry the way you do in a college fraternity. You may have some very close friendships that grow out of Masonry (one of my groomsmen in my wedding was the Master who initiated me) but it won't be universal. But, like a college fraternity, there will be business meetings, committees, events, fundraisers, etc. There is also a sense of brotherhood that spans across the world with men you've never met. I could go on for days and the similarities and differences.
Finally, How long does it usually take for one to reach 3rd degree master Mason. I've heard anywhere from a few weeks to a few years? Again, probably depending on the lodge. Also, how do you know when you are ready for a new degree? Is it based off of what you've learned or other factors.
Also not an easy question. In California, in order to progress to the next degree you are required to memorize a portion of the degree. We have both a short form and long form version of the memory work. The short form in a few paragraphs, the long form is a few pages. Depending on the lodge, you will probably be encouraged (although not required) to do one or the other. Our lodge makes it very clear that our expectation is to do the long form. I would say that this generally takes around 4-6 months between each degree. But, you should also realize that Freemasonry is a very old institution and things move slowly. Before your first degree, there is a lot that needs to happen from signing a petition, to voting on you, to investigation committees, to background checks. All of this takes time, and we only have meetings once a month to go between steps. Some lodges do everything they can to speed this process up, some don't. Ours purposely moves slowly to ensure we have done our due diligence. I believe our most recent initiated brother showed up to meet the brothers for the first time in December and was initiated in April and he had no hesitation; he wanted to join from day one.
Finally, you asked in the first part of your statement about whether you should given that you are a college student. I will tell you that you wouldn't be the first college student to do so, but the study sessions to memorize the portions I mentioned earlier are not insignificant. It will take a descent time and energy commitment on your part. You will likely drive to your lodge to meet with your mentor at least once a week for 1-2 hours, there are stated meetings once a month that will last 3-4 hours with dinner and discussion included. Your lodge might have additional functions as well, not to mention events such as pancake breakfasts or community service events. Then I would estimate an hour or two per day of self study. I'm not trying to scare you off, but I find that the biggest reason that young Masons don't stick with it is that they come in with incorrect expectations.
Feel free to ask any additional questions, either here or by private message and I'll do my best to answer them.