The question seems to come down to should you outsource it to a college student or to an outsourcing company. Either way, you are outsourcing the work, so no matter the option, you will have certain risks.
I personally think the outsourcing company works best because of more natural barriers to entering as competition (though none are a major obstacle) such as language, connectivity, skills, etc.
Of course, the cost savings may make it easier to have multiple people doing different tasks. I personally trust Rick and iWebmasters. However, there is no way to eliminate risk in any business endeavor (there's your free legal advice!)
Just my
Matt