Hi,
I actually was on a similar route.
I transitioned during grad school. My dissertation advisor was aware, but I kept the rest to myself. At that point, I wasn't ready to go full-time, but I planned to do so as soon as I finished my course work. My grad school colleagues were aware that I was going through some changes, but I think they thought I was getting ready to come out as a gay man.
Essentially, I was living two lives-one male that was slowing down and a female one that was gathering steam. I socialized outside of university circles and lived as a woman away from work. Eventually, when I had finished course work, I interviewed for jobs as a woman, got hired and moved on with my life.
As for the university-the department was very cooperative with my transition. The university less so regarding documents, etc.
Finally, about telling guys-if you are not full-time, it's a very bad idea to tell undergraduate guys. Wait until you have transitioned and can present as female.