All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad, sallallaahu ‘alayhi wa sallam, is His slave and Messenger.
If these female students do not cover their 'Awrah (parts of the body that must be covered in Islam), then it is not permissible to publish their photos. According to the most preponderant view of the scholars they are even obliged to cover their face and hands, yet this is a controversial issue (i.e. cover the face and the hands).
For more benefit, please refer to Fatwa 83033.
The issue of photographic pictures is also a controversial one; in this regard please refer to Fatwa 83726.