I say go with PHP not only because I believe it to be a better platform (PHP has object-oriented stuff in it if you really want classes and objects), but because you're at a university. Universities are supposed to be about the pursuit of knowledge, and, more importantly, the sharing of knowledge. Being tied to Microsoft (or any other proprietary platform) severely hinders that ability.
Also, I think it is silly for colleges to teach students to program in MS-centric environments simply because "that's what the market is demanding". If you want to be a VB/VC++/C# programmer, go to your local community college and get an associates degree. If you really want to be a computer scientist, you should be able to go to a real college and learn about all different kinds of platforms and languages, from Linux to Unix to Windows to VMS to AIX, and PHP to ANSI C to PostScript to C#.
/rant
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