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Saving money in college while paying for college
I wouldn't recommend trying to chase a good return on this money.  I'd just put it into a savings account of some sort.  If you can get a better interest rate with an online account, then feel free to do that.  I'd recommend using this money to pay for as much of college out of pocket as you can.  The more student loans you can avoid, the better. As @John Bensin said, trying to make money in the stock market in such a short time is too risky.  For this money, you want to preserve the principal to pay for school, or to pay down your loans when you get out. If you find you have more money than you need to finish paying for school, then I'd suggest setting some aside for an emergency fund, setting aside enough to pay your loans off when you're out of school, saving for future purchases (house, car, etc), and then start investing (maybe for retirement in a Roth IRA or something like that).