No. Save your money.

If you do get anything, skip buying new and only buy used.

Put a cap of $400 on what you spend, you want to always feel awesome that you didn't spend too much.

If your club gets going, figure out a way to get a decent bike without steeling... but still not paying for it.

---or better yet----

Start a club that you can put on your resume... Science, Technology, Engineering, Math.... Bicycling is just a form of transportation until you've created a funding stream where all life's needs are paid for first. (including saving for retirement)

Or have your parents buy you a nice bike.

But if you are like most people... you'd be better off with a beater/city bike and put effort towards cash generating efforts. Excess profits buy bikes.