Rather than be the umpteenth person to tell you that you don't need an FCC
license for internet broadcasting... ;-)

.....I'll tell you a quick and easy way to get around the *other* licensing
issue.

You could simply go to Live 365 (live365.com) and sign up there. You will
be given a blanket license that should keep you covered legally.

Also, you *might* be think about having a link that only connects for people
"on campus" (using your servers, etc.) that might allow you to broadcast on
your INTRAnet (as opposed to the whole internet). That might keep you in
the clear.

You might also have to watch out for any prerecorded spots that have agency
or union talent on them. (Although, sine you are a non-comm, this is
practically a non-issue.) If you have PSA's from the ad-council, they
should be covered by the ad-council.