Here are some other opportunities you undergraduates should definitely take advantage of if you want to break into banking.
UBS has a "Discovery Days" program for those completing their sophomore years. The deadline is usually around early February. The program is about 3 days, and let's you see the different divisions of an investment bank (from the trading floor in Stamford, CT to Investment Banking networking on Park Ave in Manhattan). This program is a feeder into the UBS summer analyst program and the full-time hiring.
UBS also has a one-day "Freshman Frenzy" program for those currently in their freshman year. It's a nice exposure program -- mostly for networking. UBS also has a Summer President's Program, and having contacts and participating in the Freshman program will give you a huge leg up later on.
Lehman used to have a spring break trading internship to attract more diverse candidates at the firm.
Barclays has since started other programs encouraging a more diverse pool of candidates.
This includes the newly launched IBD and Capital Markets "BOOT CAMP" - a look at the firm aimed at juniors.
Barclays also has a sophomore rotational program, which allows interns to see IBD, IMD, and Capital Markets.