It's a loaded question, you could get into trouble for just having it on campus depending on the schools policies, however it is not a weapon any more than a shovel, but a person could use a shovel as a weapon.
I would avoid trouble and ask about the schools policy for keeping a table top lab laser on campus, if that requires special permission or restrictions then you know you will have to meet the FDA requirement's for a hand held over 5mw just for starters, if yours lacks the safety features ( aperture shutter, key switch, safety dongle, indicator light, delay start, ect ) then you are in a grey area already, I think you should error on the side of caution and remove the laser from school property before asking about it, then there is the question of when and where you can use it.
I'm afraid you won't like any of the answers you get, likely you would be required to operate a laser over 5mw only under controlled conditions, such as a sealed room with safety warnings and safety equipment, your HH over 5mw is likely not allowed.
Proceed with caution and at your own risk, my opinion is not legal advise.