Google announced the organizations that have been chosen for participation in the Google Summer of Code 2012, and WordPress isn’t one of them. Jane Wells said that the rejection from GSoC this year was a bit of a surprise, after a successful run last summer and what seemed like a positive response to this year’s intended direction:
Why did we get rejected? We don’t know yet. I used last year’s successful application as a template. There will be a feedback meeting in a week or so, and Carol says to attend that when it is announced and we can find out why during that meeting.
Wells said that a summer mentorship for the 3.5 development cycle is still a possibility, and that college credit for independent study could be offered in place of the monetary reward. It sounds like a number of options are still being considered.
Google Summer of Code is a global program that offers student developers stipends for contributions to open source projects. Past WordPress GSoC projects included WP Document Revisions, Language Packs, and Template Versioning.