Comment feel out company (Score 1) 503
Building a reputation as a someone with enough skill to find security problems and then solve/exploit them can be profitable in the long run. It may even get you a trip to Vegas for Black Hat. I'd suggest the following.
Give the company a call. Hear what they have to say about a hypothetical situation where a student wants to examine their program for security problems and then wants to report his/her findings back to the company.
If they give you that reverse engineering, IP crap. Post it anonymously somewhere.
If they're cool, then the next step is to approach your college with the same question. Repeat previous step. Just be careful not to get your weenie whacked!