As I had a look at the website of GRUB today I found there a notice releated to Google's Summer of Code this year.
As I had a look at the Summer of Code 2005 page, I realize that this year important (GNU) projects are there, too, for example:
If you are interested in Google's Summer of Code, please read also the
GNU guidelines for Summer of Code projects.
"This year, Google's Summer of Code program does
not presume projects call themselves 'open source' (a term
we cannot accept),
so we can participate in it."
So if you are a student and have got some time, please have a try to contribute to a GNU project that needs help.