How much MAC address tell?

The university where I study will be soon giving Mac Address to students. (only way to access internet). Now I am concerned about privacy. Does MAC address tell what I am accessing? What is purpose of this? :(
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More about address tell
  1. It doesn't effect privacy, but I'm surprised they would go this route considering how easy it is to clone a MAC address.
  2. It seems very unlikely they are going to be giving out mac addresses, most likely they will just require you to register the ones from your equipment with them. At that point they would basically know what machine had which ip address and if they received a complaint they would know what person was responsible.
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