Research at University of Waterloo, CS

I wanted to ask some questions about research at university of waterloo. I am a CS student.

What are the computer science research opportunities at the University of Waterloo at an undergraduate level? I am not looking to research during the co-op terms. Instead, I would like to conduct research during the study terms together with my courses.
How can I get involved?
What percent of undergrad students take up research opportunities?
How readily available and accessible are these opportunities? How difficult is it to qualify?

Have you seen this page? It looks like you need a 80% average for one of the more common programs which is well within the top 25% of students.