I can understand where your coming from having worked for a few years and am now back at college being a student is tough, but a wise old brickie once said to me "The more you learn the more you earn", ive since added "and the more you yearn".
That said sometimes being constrained in ways creates ingenuity and solutions that you otherwise would have never contemplated. A start of $200 isnt alot to work with but we all start somewhere im not sure what your like for tools but as in investment i would start with some good drawing and measuring equipment (calipers, compass, scribes ect).
This is a mistake I made and if i had my time again I would invest in that and learn how to make as much as i can, then move onto a lathe, CNC/mill. Spend your time planning and drawings while you save.
I used to do PC repairs and had a sign similar to this one
