Do good golf clubs make a big difference?

Right now Im playing with my grandpa's clubs he used 15 years ago but they were passed down to me when he passed away. I have a 3 Wood and One driver(both are calloway) all my irons(3-9) are powersquare. They are really old and the grips were awful, until last week I spent some money on grips for each of them. These clubs could probably sell for about $50 on ebay or craigslist. So I'm asking if clubs really do make a difference and right now I hit around a 100. I know that's not good, but Ive only been playing for 3 monthes. Im 16 right now and Ive been talking to my parents about getting new clubs. They say if I make the golf team for my high school then they will chip in $500 and I will put in $500 of my own and get a Titleist $600 iron set, $300 driver, and a new bag while I keep my putter I have know which is actually new. Should this help, thanks