There are many ways to pay for a college education. Taking out a loan and investing in a CD to repay the loan is unlikely to be cost effective. The interest earned on CDs is probably less than the interest you will pay on a loan.
If you are currently a high school student, check with your school guidance counselor for scholarships, grants, or other ways to pay for a college education. If you've completed high school, check with the financial aid office of the college nearest you to learn ways to pay for college. You might also want to check with the college you have enrolled in to inquire about scholarship opportunities in your intended field of study. Many colleges and universities have little-known scholarships contributed by alumni, service clubs, or other sources.
Web sites that may provide helpful information include http://www.collegeboard.com/student/pay/ or www.college.gov.
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