Alrighty, i think its time for me to post something more useful... lol
Anyway, here's a few sites i think if anyone is interested can try out. We're art students afterall, so why not do some related stuffs?
Noise Singapore 2008Hmm, this has nothing to do with earning money, but well, this is one of the bigger local design contest around. And I've participated in it before, its a nice place to get exposure and to know some other local artist.
DesignByHumans.comAnother cool site to earn some quick cash, if you are good enough. Design a T-shirt, and if its pick as the daily best you get $750 in your pocket. $1000 more for the monthly best. But the difficulty will be getting people to vote for your design.
Threadless.com
Same idea as DBH, but less competition and less money too. I've tried it but still not very sure how it works.
MIMIC Morning international Manga Competition. From the name you should know that this is a Manga Comic competition, can try if you are interested, but you may find yourself against professional artists from all over the world. Holy prize is US5000! Deadline is Sept 30th.
DeviantArtThere are some small art competitions in DA, but the link i added here is to the Job offers forum.
Try taking some small projects like Logo design or character design. Its quick money!
I'll post more and update if i find some new stuffs. So if none of them suits you, you can try Singapore Pools. No skills needed, just pure luck.
Good luck guys with earning $$!