The first thing that enters my mind is that at your age, you should proceed with caution when it comes to investing.
When my wife and I first started investing, we were advised never to invest monies that we could not afford to lose. The best example of this is to show you the Market today. Ask around and see how many people have lost a good deal of money in the market at this time. My investment accounts are down anywhere from 5%-40% depending upon which account you look at. But, I can afford to lose this money because it can afford to sit in those accounts until the market corrects.
Can you? What long term expenses do you have that you might need to access that money for? Right know you probably will say nothing, but can you say that in 12 months? Can you say what your future will bring in 24 months? What if you get hurt at a Service academy and have to leave? Your life just changed! So has your financial situation.
Don’t get me wrong, I always encouraged my Young Marines to SAVE money. Maybe you ought to look into a good high yield savings account or Money Market account. This way you are still earning a return on the money, yet you still have access to it in case your circumstance changes.
Wait until you have a higher income and a full time job being an officer before you start investing.