i would do a lot of things. I would spend it on my family and loved ones. I would spend it on myself. I would give some to charities like ones for war amps, kids with autism and those with disabilities.
i would finally open up my own business on the side (that is one of my goals too lols) I would open a cosmetics shop and hopefully not use all the make up products on me.
i'd probably still go to school. the point is, I wouldn't waste that money if I had it.
I'd invest it...most likely in gold, since that's the only thing that seems to be steadily and swiftly going up in value. I'd also take some of it and buy a nice foreclosed home in a decent neighborhood and rent it out.