With regard to the third choice, the prominent upside may lie with the students strong motivation to learn. In comparison with their counterparts, they shoulder more financial pressure and this would help them fully concentrate on their study so as to be more competitive for a job position. In this regard, there is a higher possibility for them to have a more promising career prospect.
Taking all three ways into consideration, I personally would prefer students to use the loan from government and repay it after graduation. For one thing, there would be additional financial stress for the government if only the government take the responsibility. For another, if all costs are paid by the student, s/he needs to take time off for years and there might be dangers for them never coming back to school.
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