Schools are like work... either it's a free for all or requires permission and signoff. Especially for anything that can take heat, like an exit. To avoid issues, check with your administration... both the network people and the people you report to policy/class wise. Neither are hard to find or talk with. Thanks for running a relay.
Also... https://lists.torproject.org/cgi-bin/mailman/listinfo/tor-relays-universitie...