Google Summer of Code 2009 is out! Check the list of approved projects here. It's a Open Source "who's who" list: Blender, Audacity, Drupal, Joomla, Gnome, KDE, Inkscape, Gimp, VLC, PHP, etc.
No plans for summer? Your plans are working for McDonalds or the local supermarket? Check the project, maybe there's a place for you. Spend your summer being payed to code... learn and contribute.