Wow, I can totally understand your frustration on this one!!! I have a sister a lot like yours, except she doesn't even bother pretending to work anymore. She's 45 years old, has 3 kids by 2 different men, lives with my parents, has stolen from them and anyone else she can, and yet she is the golden child. Nothing is ever her fault. Her kids were basically raised by my parents, and none of them amounted to a thing. None of that is her fault either. Sad to say, but it's come to the point that I no longer have a relationship with any of them, not even my parents. Spent years trying to make it work but it just wouldn't.
I hope your situation has a happier ending, but please know that you are completely justified in being furious with your sister. Sounds like she needs a serious dose of real life to teach her a lesson or two.
I hope your class goes well, and good for you for being the adult!!