[mojonixon]

Frankly, that sounds like a bullshit policy, and certainly doesn't apply to all universities. Students are paying for access to the resources of the university and shouldn't be giving up IP. UMich has a much more reasonable policy here: http://www.techtransfer.umich.edu/resources/policies.php

........

The University will not generally claim ownership of Intellectual Property created by students. (A “student” is a person enrolled in University courses for credit except when that person is an Employee.) However, the University does claim ownership of Intellectual Property created by students in their capacity as Employees. Such students shall be considered to be Employees for the purposes of this Policy. Students and others may, if agreeable to the student and OTT, assign their Intellectual Property rights to the University in consideration for being treated as an Employee Inventor under this Policy.

........