[Porsche-O-Phile]

Agree with the above, except I'd suggest pretty much any investment OTHER THAN housing at the present time. Start doing some stock trading or something with it that will result in appreciation, not depreciation.

Hell, there are foreign bank accounts that yield a guaranteed 8% return if you know where to look.

Jesus, if I'd had a spare $17k in college, that's what I'd have done. He's in a very advantageous position - he's got about $17k more than I ever had while in college (or graduate school!)