1. College students need the essentials, or so called 'college musts'. These include:
Twin sized bed
2. They don't mind if it's used or has a few scratches, as long as it does the job
Most college students don't really care if the new futon matches the blinds. They just want something to sit on or sleep on. If they bought new furniture, it would probably get scratched up when they have friends over anyway.
3. They will come and pick it up
One of the perks of selling items to college students, they will almost always come and pick it up themselves.
4. Use Craigslist and Facebook
The best time to post your items would preferably be after 12PM for obvious reasons (college students tend to sleep in). Try to see if you can get into the 'Free and For Sale' groups in Facebook. These are group pages dedicated to selling anything college students need. Keep the conversation going by replying to people who have commented on your post, this ensures visibility and draws more attention to your post. Don't be afraid to post during early morning (only if you can stay up past 12).
5. Wipe it down before you sell it
It doesn't have to be spotless clean. Just make sure the item doesn't look like it has been sitting in a storage unit for the past 5 years.
If for some reason you cannot sell your old furniture, keep it! You may still want to use them in the future. If you have no space in your house to store them, try to putting them in a nearby storage facility. Check out the locations where American Self Storage facilities are operating here.