Any way to represent simple AND/OR business logic in a database?
If you had billions of students and the rules were fixed, I'd recommend a stored procedure which performs the logic on rolling subsets, saving the results in another column or table.  Since you likely have fewer students, a view could handle the logic and then you'd never need to store the result.  

If the rules are extremely complicated, then you'll want to pull the data into code and perform the logic there, where you have better control.