Writing a cover letter when you are a new graduate or about to graduate is one of the hardest things to do.  How can you make yourself interesting when you don't have anything concrete to offer?  If that's what on your mind, don't worry.  Employers know that you are new in the field and won't be expecting the same from you as from someone experienced.

In brief, what will recruiters be looking for in new grads?  Potential and a willingness to learn.  Students graduate with a lot of theoretical knowledge, yet no practical experience.  Although this may sound like a weakness, it also offers flexibility and adaptability.  Structure your cover letter to emphasize that. 

Although there are no strict formulae to follow, here are some suggestions:

• Keep in mind what is your game plan.  You are not selling your experience.  Instead, you are selling your "potential" and your eagerness to learn.

• Introduce yourself in the first paragraph by stating where you studied, what degree(s) you hold, and what position you are applying to.

• In the second paragraph, refer to your work experience (summer jobs, internships, part-time jobs) or activities you participated in that relate to the position you are applying to.  You want to show that you are proactive, have a real interest in your field of study, and are willing to learn.  The person reading your cover letter has to sense your enthusiasm.

• In the third paragraph, state why you want the job.  If you can come up with a good reason why you want the job, that will show genuine interest and will differentiate you from other applicants.  The last thing that you want to convey is that you want the job because you "need" a job.  We all need to work to earn a living, but beyond that, there must be true interest.

• Conclude briefly by reiterating your interest in the position and asking for a chance to meet the recruiter in person.

• Once you are done drafting your cover letter, ask yourself whether someone reading that letter would remember you from a pile of 100 applications.  If the answer is "no", there must be something lacking.  Revise your cover letter until the "no" turns into a "yes".

The above is a standard cover letter structure for new graduates.  Depending on the circumstances, you may choose to adopt the above structure or stray away from it.