Oh, I understand. That's an impressively low college bill!
You could invest the money you have left over, or you could use it to pay down student loans. If you invest you're taking on some volatility and some risk but you'll probably end up with something like an 8% annual return in the long run, but in a shorter period it could vary much more than that. If you do invest, you'll want to put the whole $5,000 in a Roth IRA, because you'll get some great tax advantages from doing so. The Roth IRA is the vehicle, and then you'll just want to worry about what you're holding. Your options here will depend on the company you go with... we can get more into this if it's the route you want to take.
You could also pay off $5,000 of student loans. Doing so will earn you an annual return equal to the interest rate on your loans, so if you borrowed at 3.4% you'd be getting a 3.4% on your $5k, and if you borrowed at 9% you'd be getting a 9% return on your $5,000. If your rate is higher than about 6%, it's better to pay down loans than invest because you're getting a guaranteed good return. If it's worse than 6%, it depends on your disposition. If you don't mind the hassle and the state of being in debt, it's better to invest and keep around the low-interest loan. If you do mind the hassle or you don't want to be in debt, it's better for you personally to just pay off some of the loans.
It may also be reasonable to keep some of the money around to tie you over between graduation and gainful employment.