I'm studying to become a translator or interpreter.

Literal

Translator [or-か] interpreter [goal-に] become-[volitional-ようと] am-studying.

翻訳家か通訳 ('translator or interpreter') uses か to present alternatives. ~になろうと ('with the aim of becoming') combines the volitional ~よう with と, expressing purpose or aspiration. 勉強しています marks the ongoing effort.