First advice - fill out your profile so we know where you are!
The reason it matters is because with a $5k budget you're probably going to be getting into little more than what amounts to tent-camping in a metal tent with a bucket for a toilet and I don't know how long term you'll enjoy that arrangement. More importantly though, unless you're parked somewhere temperate the chances are very good that you won't be able to keep warm through the winter. And speaking of parking, if you're both in college, where ARE you planning to park every day and night and how are you commuting? Are you driving the bus back and forth? Its important to remember that this is a large and highly conspicuous vehicle, and driving it somewhere its not expected to be can raise red flags in this day and age. Its also like any vehicle which requires fuel and routine maintenance but when it also becomes your mobile home these costs simply become costs of living budget instead of transportation budget... Meaning that unless you personally have an in-depth working knowledge under the hood you need to be budgeting for maintenance and repairs which will not be cheap. In an apartment these costs are included in the rent and not your responsibility to perform. Most college students don't keep a vehicle savings budget so when their car breaks down they can bum rides or use public transit but you'll be homeless because your car IS your home with a skoolie.
Just making sure you've thought this idea through before you take the plunge.