I stand corrected. But my point wasn't whether the time is loggable or not, but where do you cross the line when it comes to paying for flight time or getting compensated as a professional?

I don't care if it's a university- they're flying a jet (and presumably not just for training, but to carry university officials). They shouldn't be paying for the time. If you want to make it an internship, so be it- but the pilots should be getting SIC types and not have to fork out cash to get time in a jet.