CubeSats
Other universities are launching mini-satellites. What could you do?
Resources
WIKI http://en.wikipedia.org/wiki/CubeSat
About http://www.nasa.gov/directorates/heo/home/CubeSats_initiative.html#.Um6yTySE54V
NASA Selections http://www.nasa.gov/directorates/heo/home/CSLI_selections.html#2013