Black screen curser, green dots restart loop PICS

Dear CCM readers,

Let me start off by saying that I am a poor college debt student I would love to go to a repair shop but I also would like to eat tonight hahaa.

So back to business! My pc started to do peculiar things lately, it suddenly restarted and stopped working eventually. I decided to do what I usually do in such situations, I reinstall windows 7 and magic happens. But not this time. This time, when I reinstalled windows 7 from scratch with nothing on the hard drive I noticed strange green dots on the screen (usually on black surfaces) and red dots on whitish surfaces.

Then I installed the drivers of my graphics card, subsequently restart pc. I get the usual stuff until the startup screen. Then I get the white cursor on a black screen, I can still move the cursor but nothing happens. Now, when I start my pc I get the following loop

start up Motherboard screen -> Start in safe mode? (Windows did not shut down succesfully..) -> Starting Windows (logo) -> Black screen with white cursor -> 2 seconds later restart.

Graphics card : Nvidia GTX470 (Yes laugh at me please :p)
Motherboard: GA-X58A-UD3R

I want to post a very descriptive list of my hardware, but now I can't even reach my home screen.

Could this be a hardware error? Or software error?

I am very grateful for any useful advice and help!



My hardware: