It would be nice to allow "normal" users to change their profile photo. I realize you need to be careful with this, especially for students, but it would still be nice to have the option.
My suggestion is to have two settings that can be turned on or off by administrators: "Allow faculty to change photo" and "Allow students to change photo".
That way schools can have flexibility. Each school has a different culture and trust level. Having a setting that you can turn on or off at will could also allow schools to give students and faculty an "open period" during which they could change their photo, then turn the feature off to prevent abuse.