Mentor a school project.
Fast project (12 spaghetti noodles, 3 inches of thread, support a mug, highest off table wins type of thing) with pizza (low cost).
I’m personally a big fan of the honest feedback. School won’t tell students they suck. They need them to pay tuition. Students unfortunately only find out when they try to get a job. Frank portfolio review is high value.
Individual mentorship can take a lot of time and I find requires the right individual to make it work. I find that class presentations or a series of presentations can have a lot of value. You’d be surprised at how much take away students can get from even an hour open ended chat. Stuff you know as a working designer that you don’t even think of is gold for someone new to the professional industry.
Networking is a good topic. As is basics like communication, project management, business and budgets, how to talk to a supplier who doesn’t speak english as a first language, research, etc.
Even providing links and resources can be of value. Old books from the studio. Old samples. Go to local suppliers for models or supplies.
I do also like the first year style quickie project though not sure if the students would see the value in something they can’t really use in a portfolio.
To reinforce the observation - long ago, as I interviewed an industrial designer with zero skills and thinking, yet with a newly minted MID from what should have been a good school, I told them they should ask for their money back. A harsh reality, but too late.
The best thing I did was to take on a student as an external advisor for their thesis project. The freedom to explore ideas was creatively enriching for both of us.
part of the problem is that there is no check for quality portfolio assessment or in absence of that, tests for an aesthetic sense (what is called the “eye”)
so you get people without the eye admitted to design programs and they can’t tell when their spacing is off