Enrollment or courses might not be generally super sensible, but financing/financial data, personal identification like phone numbers and emails, chat logs and such

I mean, something as simple as name + grades is extortable. There are plenty of students who would not want their bad grades to be public information, and who would be upset with their school if the school allowed that to be leaked, or who may personally pay an extortion if contacted directly.

I certainly do think it's crazy that schools are selling out education to SaaSification, but that is normal in the world we live in.