For most students, summer ends around the end of August or the beginning of September.  Considering all the swimming that can be done before then, I am surprised that Pentax did not release the Optio WS80 a lot sooner.  The WS80 is only waterproof for about 5 feet, but it has a 10 megapixel sensor with face detection.  It also features a 2.7-inch LCD screen and high definition 720p video recording at 30 frames per second.  It is available for purchase for a price of $250.