Here's what I would do... (Score 1)

To begin, it doesn't seem as if you are maliciously trying to hurt the engineers or give yourself an advantage over the students. It also doesn't seem like you were purposely trying to find flaws. I would talk to a teacher, academic advisor, or even the tech people in the library to find out what you can do. Explain that you are only trying to make things better and not publish exploits. The suggestion about sending something in the regular mail could be a good one. I would type up a professional and respectful letter saying how you found it, what the repercussions are of such an exploit, suggestions on how to fix it, and possibly include a CD with your code on it. You don't need a return address and its anonymous so you don't have to be so nervous.