First of all:
05 FSM
05 Parts Man
You will need these. Disconnect the battery. Take pictures, the more detail the better. When you do start removing stuff, LABEL EVERYTHING. Bag your fasteners, then LABEL WHAT THEY ARE FOR. This is in CAPS because this is where people screw up the most. They go to put it back together and then stand there scratching their head wondering 'where does this go?'. Read the FSM in detail, but this is pretty much how it will go:
1. Put it where you're going to work on it. Unless you have ALOT of help, don't expect to move it for awhile.
2. Disconnect the battery.
3. Take your pictures in and around the engine.
4. Label everything that will be disconnected or removed; wires, parts, etc.
5. Drain coolant, disconnect/remove everything connected to the radiator, as this will be coming out along with the shroud, mech fan and puke tank.
6. In the FSM is proper way to bleed down your fuel system. Then you need to disconnect the supply line from the rail on the intake.
7. Disconnect your accessories, On some of these it will be easier to remove it from the engine, i.e leave the A/C compressor ******* out of the way so you don't have to screw with refrigerant. Disconnect alternator and power steering pump.
8. Disconnect exhaust from manifolds. WD40 or PB Blaster (some form of penetrant) will be your friend here, as these generally don't like to come apart. Soak them the day before if you can swing it.
Time to pull the 10 miles of wiring connected to the engine. This will include all 8 coil packs, all 8 injectors, EGR, throttle body, temp and knock sensors, ground straps and your air inlet temp sensor (I'm sure I left something out). You might be able to pull the engine with the harness attached, but I don't know where else it goes offhand so you'd have to disconnect all that too. LABEL LABEL LABEL.
9. Time to hit the back end; there is a support girdle of sorts that also covers the the torque converter bolts, this will need to come out.
10. Torque converter bolts, 4 of them. Best thing to do is put a big socket on the crank bolt to hold it in place. Of course if it's still hydrolocked you might not have to...
11. Remove bellhousing bolts, be ready with something to support engine (either from under or with cherry picker). Also ensure you have transmission support as it will take one helluva nose dive once you wiggle the engine loose.
12. Unbolt engine mounts. At this point once you've wiggled the engine far enough forward to disengage it from the trans you should be able to start lifting it out. I have heard mixed opinions on whether the engine can be lifted out without removing the hood. What I will see is if you remove the core support up front (where the hood latch is) it will give you much more room to move the engine forward. Your choice.
13. Installation is all this stuff backwards. I'm sure I missed something, but that's the bulk of it in a nutshell.
On a side note, since you will have the engine out AND you are blessed with one of the best years for custom tuning...since you are a poor student, understandably you cannot afford a 392 stroker (hell I can't afford one). A cam swap would be a good thing to do while you have the engine out, there would be no easier time to do it, even if it was just a 6.1 or comp 260. You can use Diablo or SCT to load up a custom tune and have that thing run like a beast. Just some ideas. If you tell us where you are someone might be able to offer assistance. Good luck & keep us posted!