If you’re a student, get on it and start talking to the open source projects you’re interested in. At Eclipse.org, check out our list of project ideas and the people to talk to if you’re interested. I recommend you start talking to potential mentors soon as they will be the ones reviewing proposals in a few week and scoring them.
As for Eclipse.org projects, how about we put some more projects ideas on the wiki? I’m a bad sad I see nothing from the e4 project there… it would be a great way to get some work done over the summer and attract new contributors.