Been there, done that. It’s way too much work for something that’s bound to go nowhere.
If you’re a promising student, I’ll mentor you all day long. But it doesn’t matter how promising I think you are, I won’t actually work on your project with you. As soon as your questions start to feel like work, I’ll pull back. If I have to do your work for you, then it won’t be long until I’m the only one working. No thanks.
Development is only one part of the software development lifecycle, management and testing is the other half. Without someone competent in those roles, the amount of work that gets put on the one dev that steps up is tripled.
I used to entertain thoughts of doing side projects with others. Not no more.