It might or might not. It depends on what kind of key you have. Is it an OEM key, Volume licenced key, etc...
You need to have the right version to make it work. They likely use a volume licenced version, and this is not that, so it probably is not going to work, but again, that is purely speculation.
At this point, either ask at your university, or just try and install it and see if it accepts the key. If you don't want to ruin your install until you are sure, use a Virtual Machine such as Oracle Virtual Box.