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Could you not do something like put the papers up at Amazon in Kindle format (and find a similar ePub stockist), and in the book store on Campus sell an Amazon / <other> gift card for the correct amount? Then a student could go and download the paper. Added benefit (possibly) - if it looks interesting anyone else in the world could buy it too. Downside - you lose 30% to Amazon - I assume other retailers charge similar. (I've no idea if you need a credit card to open an Amazon account, to be honest, or if it can be done just with a gift certificate - I'm pretty sure for Apple you can just use a gift certificate, for others apart from these two - also no idea).
It may be worth checking if any of the major retailers of ebooks offer a special service for academia, taking a reduced cut.
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