It should be mentioned that one of the few advantages those old Schwinns have is that they can be disassembled and reassembled without specialized tools. If you can get it cheap enough, and it fits, it is a good bike to learn the basics of bicycle mechanics. They are also largely indestructible.
FWIW, I've got an old Varsity (that I got for free) in pieces right now that I'm building up as a SS, just for fun.