I not sure whether to spend the next 4 yrs at university to do a Bachelor of Education(Special)/Bachelor Arts (Psychology)... or... spend 4 years setting up a home-based business (re-designing used clothes). I'm passionate about both... but I have to choose one.

I would say go with your heart. School is a lot of hard work, it can be very expensive, and unfortunately some of the classes that you have to take you won't feel that passionate about. But in four years you will have your degree, and hopefull withstanding our economy you will be able to find a stable good paying job. On the other hand starting your own business is a lot of hard work, it too can be expensive, and it can be discouraging if business doesn't pick up at the pace that you anticipate. But, who knows your potential income is limitless.

In your situation I would suggest writing a list of pros and cons for each. I am not trying to give you a direct answer of what you should do, because ultimately that is your decision.

I would say why do you have to chose, why not do both?

First of course college can help you in classes on marketing, on fashion design and other areas.

Also with a degree that can never be taken away. The home based business will help pay for the college and you will have both.

I would also say both, because college is basically four years of free networking... you can make connections with people that like your clothes. I wish I had realized that when I was in school, unfortunately I didn't take advantage of it to grow my business.