You can't run Windows through Boot Camp that way. That .exe file is actually an executable file for installing Win7 on a PC currently running an earlier version of Windows. As it is you cannot use on the Mac to install Win7. The school will need to supply you with what is essentially a copy of a Win7 bootable installer if you wish to use Boot Camp. Also, Boot Camp makes the Windows partition on your drive. If you use Boot Camp you must first remove the MSDOS partition you made and restore the disk to a single partition (except for the Recovery HD partition which should not be touched assuming you can see it.
As an alternative:
Windows on Intel Macs
There are presently several alternatives for running Windows on Intel Macs.
1. Install the Apple Boot Camp software. Purchase Windows
XP w/Service Pak2, Vista, or Windows 7. For Boot Camp
4.0 and above you can only use Windows 7 or later. Follow
instructions in the Boot Camp documentation on
installation of Boot Camp, creating Driver CD, and
installing Windows. Boot Camp enables you to boot the
computer into OS X or Windows.
2. Parallels Desktop for Mac and Windows XP, Vista Business,
Vista Ultimate, or Windows 7. Parallels is software
virtualization that enables running Windows concurrently
with OS X.
3. VM Fusionand Windows XP, Vista Business, Vista Ultimate,
or Windows 7. VM Fusion is software virtualization that
enables running Windows concurrently with OS X.
4. CrossOver which enables running many Windows
applications without having to install Windows. The
Windows applications can run concurrently with OS X.
5. VirtualBox is an Open Source freeware virtual machine such
as VM Fusion and Parallels that was developed by Solaris.
It is not as fully developed for the Mac as Parallels and VM
Fusion.
Note that VirtualBox, Parallels, and VM Fusion can also run other operating systems such as Linux, Unix, OS/2, Solaris, etc. There are performance differences between dual-boot systems and virtualization. The latter tend to be a little slower (not much) and do not provide the video performance of the dual-boot system. See MacTech.com's Virtualization Benchmarking for comparisons of Boot Camp, Parallels, and VM Fusion. Boot Camp is only available with Leopard or Snow Leopard. Except for Crossover and a couple of similar alternatives like DarWine you must have a valid installer disc for Windows.
You must also have an internal optical drive for installing Windows. Windows cannot be installed from an external optical drive.
To use virtualization to run Windows you need the school to provide you with the Windows installer as a .iso disc image on a properly formatted DVD that can be used by the VM software instead of a bootable disc.