Use the Requirements Already - I am working on a release at work. Initially we were supposed to replicate some bunch of database tables that the customer had in an old system. We did a ...
Former grads are racing to create companies to provide the "project support" to students. There is apparently a lot of demand. You got to know what you are doing. It also helps if you keep up with the engineering industry to see what is hot. I guess there is a bit of manual labor involved if you have to wire up the project yourself. The component prices might be cheap though, especially if you buy in bulk.
I hear the going rate for project is between $300 to $750. You pay more if you are trying to get an advanced degree. Luckily there is some competition, so the prices are not that high. Seems like a deal to me.
Now I would not recommend any student buy such a project. The whole point of a project is to learn while building the project. But perhaps purchasing a project will help you figure out how to do business in the future. Let's just hope these engineering graduates aren't designing the air planes you fly in.