I would love my campus to have that and you be damn sure that I have send off few emails to day about this to staff at University of South Florida [which I attend] with regards to this service.
Quick description of the service: http://www.imagine-wl.com/education/
Official Microsoft PR:
http://www.microsoft.com/presspass/features/2006/apr06/04-21WindowsLiveEDU.mspx