You can try many things.
First look at your surroundings and list the things which can be improved using better 'technology' replacing the existing manual or obsolete techniques.
Choose one among them you think feasible and worth trying it.
Say,for example, you can design an ingenious 'Electronic Voting Machine' if your college doesn't have one.
Also you can google to find good college level projects
1. If you have a swipe in and out system like some in the US have, how about a display showing the number of students in buildings. Could also be very useful in the event of a fire/fire drill to see how many are left in the buildings.
2. A webcam viewable across the site showing the queue at the canteen (I wish we had such a system).
It's a 10 minute walk to our canteen from our dept. Queues vary without any real pattern of people's behaviour. One day at 9:30 it can be quiet, next day it's heaving. Another idea would to block those using credit cards and cash back for a packet of crisps at the canteen checkout (a separate moan)...all at the click of the mouse, it would be a best seller here.