I also live in a town with a university providing a large perceneforum.xxxe of the population. I've been called a few times by the uni newspaper asking me to advertise, but have declined. I am interested in working with faculty and staff, and I do not discriminate against students - every one who has called me has received a massage. But I hesitate to advertise to the general student population, and I don't discount the massages. A lot of my reasoning is because I only do outcalls. (The fitness club I do IC work with is in another town.) I do NOT want to find myself tracking down an address on my way to a client's home, only to find myself in front of a frat house!
I have, however, provided chair massage in a sorrority house during their "weekend retreat", and had a lot of fun doing that. I did 5-20 minute massages and stayed busy for nearly 3 hours straight. (I was only booked for 2 but stayed because there were more who had signed up.) Some could only afford the $5 for a 5 minute, but they happily went with that. Several went for the full 20 minutes.
I have also provided chair massage for a class. It was in the education department, and they were focusing on self-care. I have provided chair massage for a faculty group (one department) just before the fall semester started, and have seen faculty, staff & a few students privately for table massage. It has all been word of mouth advertising, though.
IF a frat house ever called me to do something like I did at the sorrority, I would agree on the condition that I work outside. I would then take my 18 year old son along!! Being in WI, that limits it to a few months of the year, but I will never, EVER go inside a frat house. Or a mens dorm, lol.
I don't offer a discount, partly because I want them to honestly value massage before I go. Most any student could save up for a massage, if it is important to them. They do have cheap massage available at their health center on campus, but what they get is cheap massage. Some prefer to pay my full rate so they will get the massage they need. Another reason I don't offer a discount is because they are not my target client group. If you want to make it your target, then I certainly can see offering a discount. My target group is seniors, so that is who I give a discount to.
I'm not trying to discourage you - just to caution you to really consider your safety while you find a way to work with students.