Ignorant College Student--Need Advice!

Looks like you have gotten good advice here.
I also think you should not spend any more of this car and sell it for what whatever you can get out of it when the weather starts to turn nice.
You picked the wrong car to try and make money on, even a really really nice Dart or Valiant is hard to sell for $5,000. You car has a lot going for it, it already has a V8, it's a two door hardtop with bucket seats, but it'll take some work to get your money out of it.
I like Geof's ( Cosgig) advise; do what you can for free, clean it, shine it and adjust what you can.

These cars are not one to invest in. To own one you need to really love it because it will make you happy but not make you money.