Don't know how similar the program would be, but I used to work for a collegiate licensed shop--With how it goes here, I personally wouldn't even think about licensing without a serious commitment from the customer. We literally had to send them one of each design, actual printed garments--and unless you want to chance eating the whole order because it's not approved, you are one-offing every design and waiting for the OK before you set it up again.
The funny thing is, it seems like most of the faculty here is pretty unhappy with the situation because of the very short list of expensive shops in town they can use for 'school' stuff. Pretty sad when they're talking about raising tuition and cutting programs, even when they make it that hard for you to make money for THEM. Go figure.