What's the best way to learn Photoshop?



Another great resource is iTunes. iTunes has several video podcast channels that cover the software, features, tools, tips etc. The instructors may be dorks (Cross,Kelby), but the best part is that it is free content!

I learned photoshop, illustrator, after effects, etc all while in school at FullSail Full Sail University: Campus and Online Degrees. I would not suggest 40k in student loans to learn photoshop though. You can very well learn the skills you need in some online tutorials, books, coaching DVD's.
 
I agree that college for PS would be a waste of both time and money. Hell, when I was going to college for Intl. Business, I learned more online than taking the damn courses.