If the University's shop has the proper tools, doing a headset and bottom bracket really are not very hard. Without those tools I would pay the LBS to do it. I had an old Fuji mountain bike (a freebie that needed more work than any other bike that has passed through my hands) and I ended up putting in a cartridge bottom bracket and a new Tange Levin headset. Using the bike coop's tools it was easy as pie.