Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
Without clarification from MS, the best I can tell is:
If you are student or faculty using the Office 365 ProPlus on a personal device, and you install the Office suite or use outlook.com, OneDrive, etc., :
1. The university has access to your documents and data under your .edu account.
2. If you sign into these products with a personal account, the university won't be able to link it to your
student account, but may still have access to your documents and data used with the personal account.
3. If you are on campus and connect to the network with a device, the university can see your documents
and data regardless of what account you use.
4. If you use Office and don't sign in, there is a possibility the university can see your documents.
I wish I could get a response from Microsoft.