It's two parts of three, the third being "vita", life.Moedred said:"Sapientia et Lux" is Latin for "Wisdom and Light."
A search revealed only one hit... regarding creation.
Vita, Sapientia et Lux. It's an old way of saying it. The better known version has the tiers mixed with "wisdom" replaced with "truth" and "light" replaced with "way".
Used here (without "life"), it basically translates as metaphorical "Wisdom is Here".
Regarding college, it's a good metaphor.