Smartest way to invest my money?

I will be starting my first year of college in about two weeks and I wanted to know the best way to invest my funds. I practically have no expenses except for day to day food. I have a full ride scholarship to my university which covers my tuition and books.

I will be receiving about 3,500 excess financial aid EACH SEMESTER which basically goes to my pocket. ($2000 of it is pell grant and $1,500 is a federal stafford subsidised loan) the reason I got the loan even though i didnt need it is because i figured i can invest it, along with the pell grant money in a CD or high intrest savings account (since i wont be incurring interest on it until i graduate) My question is how specifically should i invest my money? Should i put it all in a CD? or maybe a HSBC savings account (5.05 % APY) what about mutual funds, stocks, anything else?

I know many will say to invest in all of the above, but how much should i invest in each?

Thanks A Lot!

HSBC savings account, cd rates are not very different and you can never know what will come up.

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