Bank it away and save it- that will make a nice downpayment on a new car with easy payments in a few years, or some really nice computer ugprades every year. If I were you, I would just save it. But a few nice things (like that LCD monitor- cool), but I would make sure I had absolutely NO LESS than $5,000 in the bank per year if your calculations are correct. That leaves you with $20k after graduation, or thereabouts, which will be very nice to have once you get out into the real world. Go out, have fun responsibly, buy drinks for your friends a couple times. Just don't blow it all- you'd be surprised how fast you can spend it all. Just simple trips to Best Buy even with an "I want it, I buy it" attitude will kill you, so watch out for that. I had a killer job in the summer of 2000 where I could have banked that much in one year as well, but I had that attitude and only had $1800 left a year later. Not cool.
Spend wisely, save wisely. If things start looking up in the stock market anytime soon, I'd suggest you invest a mutual fund while the going is cheap.
