The PostgreSQL Project is yet again participating in Google Summer of Code for 2014. Google will be funding students who take part at $5,500 USD per student (see GSoC FAQ for more details). We would like to hear from students who would be willing to work on projects to add new or enhance existing features. You won't be going it alone, we'll assign experienced community developers to mentor you throughout your project.
Have a look at the TODO list on the wiki for inspiration, or the list of project ideas submitted so far by the community, although these are by no means what projects are limited to. Whether you've spotted something you think you could work on, or have a new idea to propose, submit it to the pgsql-students mailing list for discussion (see the mailing list page to subscribe) but do it soon as there's less than 3 weeks to register final proposals.
Also, if you know of any students who may be interested in participating, please send them our way.
More information can be found on the PostgreSQL GSoC page