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I was fortunate enough to have an internship in the same town as my college. It lasted up until 4 months before I graduated, at which time they turned me into a full-time employee.
The downside to that was not having any time off after graduation, but otherwise I can't complain. Besides, it wasn't a big change at all - just another day at the office. I am actually less stressed now than I was in school because my schedule is suddenly free of garbage.
* ...and now playing left field, Jon Sagara... *
Sorry, got sidetracked. As has been said already, it is never too early to start looking. The sooner you can secure something, the less pressure you'll have near the end of the term when finals are approaching. Just one less thing to worry about.
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