I hate to be a party pooper, but... first semester in college, money is tight, and you want to spend two grand lifting and modding a truck?
You inherited a paid-off car in good condition, you're better off than most folks headed to college. Put the cash in the bank, or take out smaller student loans, or use it to pay for a few extra courses that loans / financial aid won't cover to graduate half a semester early. Get through college and into your chosen profession as quick as you can, so you can make "the big bucks", get your loans paid off, and then buy whatever kick-ass offroad vehicle you want.
Just my two cents, having been there and done that.