Of course some mentoring is useful. But just the stuff that's pertinent to the task at hand; concrete help that gets them moving forward. Because, somebody is paying for results. And because producing results has a very positive effect on confidence.
I just offered work yesterday to a young person helping me at a big box store. I mentioned I was buying a device to test an Android build, and they got excited and started making cogent comments about the tool chain and devices available. I game them my card, and when they graduate in 3 months (from a local community college) I'll find them work on a client's contract.
The first project will cost me more than I earn from subcontracting them (because it takes me away from my high-rate work I would otherwise be billing). Maybe break even by the 2nd. But it's a sort of enlightenened-self-interest thing. If young people get into the field, everybody benefits.
And of course as an old guy with resources, I can afford to take some risks. Because it's everybody's job to look out for the other guy.