OneDrive is an off-premise cloud-based solution. What that means is that your files are stored in a data center off-campus. While the University has a signed Business Associates Agreement (BAA) with Microsoft, you need to be cautious about putting sensitive data in the cloud. If you have the need to share sensitive data, talk to your supervisor and turn on auditing. This will give you (and the University) a way to track what happened if there is a problem. A better solution would be to use your network drive, but if you must share sensitive data, auditing will give you an added layer of protection.