Then the college only gets title to the original IP (i.e. the IP created by the student). (Supposed) provisions are no different, it’s just a matter of understanding where the student’s own IP starts and ends and same for the 3rd party IP.
Conceptually, go back to the ‘mod’ analogy: the college gets title to the student-created portions of the mod, in which “portion” is to be understandood as both the student’s contribution in a collaborative effort, and the student’s contribution over and above in-game assets re-used by the mod (which are the 3rd party’s IP). For instance, a bot algo in CS, a map (but only insofar as the layout and any ‘proprietray’ textures (say) are concerned – again, bear in mind re-use of original in-game assets which are the 3rd party’s IP), etc, etc.
Copyright in games (topical, but relevant to the thread) is covered in the IGDA’s IPR White Paper, at least in introductory terms, and partially authored by your truly. Go look. :wink: