You've gotten some good advice in previous posts. I'll throw out something nobody mentioned...
First and foremost, do you have credit card debt? If so, that always goes first.. pay it down/off. What's the interest rate on that credit card debt? Whatever it is you just made a guarenteed return of that% on your $1000.
As for investing, its already been said.. there are no shortcuts, you must educate yourself through reading. Here is a good list that I am working my way thru:
http://www.bobbrinker.com/books.asp. Ivestors Business Daily (investors.com) is also a great daily financial paper. I would be suprised if your college library did not carry it.
Good luck!