When you print the photos, make sure you use a good quality print ready fabric (I use printed treasures but I have heard the fabric from Electric Quilt Company is good too). When you print the pictures, if you have a program that allows you to do some fixing, I would make sure the colors are very strong (over saturated) since the color will soak into the fabric. After printing, Printed Treasures has you rinse the fabric to get the excess ink out. I then iron it good to help make sure it sets.
I would add family pictures and the idea of getting friends pictures from a yearbook would be cool (so would copying nice things friends wrote in the year book). Great memories. Nix the boyfriend -- if he sticks around he can be in another quilt.