1) Lock it in your office. My experience is seriously dated, but every undergrad, grad student, RA, and prof who rode to campus did that if they had the option. As an undergrad, I didn't have an office, but I had access to several limited-access rooms that were convenient to my classes, labs & hangouts.
2) Is there a central access-controlled bike park? My school had one at the time (I think they have more now). You had to show campus ID to get in and I think they had a ticket system to match riders & bikes. Worked well when my schedule matched the attended hours and I couldn't use an office, study, or club room. Talk to campus patrol and administration about establishing controlled access bike parking (they can probably get grant money or at least nice publicity from state & national orgs promoting bike usage).
3) If I have to park outside, I'd go for the out of the way location over the high-traffic one. And use heavy duty locks.