Should I Start My Own Freelance Business While Attending College?

Many college students out there are looking to pay for tuition and/or living expenses for college while attending college in lieu of taking out sizable student loans. Some students will show up to work each week in order to make a paycheck, while others might consider starting up their own freelance business.

Below, we go over a few pros and cons of starting a freelance business while attending college.

Pro: Flexibility

When you’re running your own freelance business you’ll more than likely be able to make your own hours, which will enable you to work in between studying and attending classes.

As a side hustle, a college student might also consider tutoring, whether it be online or in person. You can put out a Craigslist ad or look at online resources to explore multiple options. It’s a good idea that you have a strong grasp of a particular subject (or multiple subjects) in order to make yourself more marketable. 

Con: Work/Study Balance

When you take on the demands of running a freelance business it means you’re going to be landing clients and working for them fairly tirelessly. Those who plan to start up a freelance gig while attending college should make sure to set aside the proper amount of time to complete course load requirements.

It’s very important to make sure that you work hard and apply yourself while in college, but it’s also important that you get the proper amount of rest — anywhere from 7-9 hours on a nightly basis. If you plan to start a freelance business, you’re going to have to work hard on budgeting your time to make sure you can fit in all the necessities.

Pro: Experience

Some freelancers may be able to land gigs that are applicable to their majors. For example, marketing majors can very easily work freelance jobs that help expand their skill set and give them real life experience that will make them more desirable on the job market.

Working your very own freelance business will also be good for your bank account. If you have a good amount of clients paying you a monthly fee, you won’t have to worry about whether or not your debit card is going to work next time you go out with your friends after a hard day of studying.

Con: Expenses

Starting a freelance business while in college might mean some initial expenses. You might need a fast and powerful computer that will help you execute your services for your clients. You might also have to invest in some office furniture and equipment to make your space more work-friendly.

Common ways to gain quick capital in order to make any necessary purchases to start up a freelance business include using student loan funds, credit cards, but also cash title loans.

At the end of the day, it’s a big responsibility to run a business of any type. College itself also presents its own fair share of responsibilities, so it’s important to know what you’re getting into beforehand.