We had fun for a bit restarting the router when we wanted to mess with a boring teacher, but eventually one of them set a password, the school IT guy found himself locked out, and I found myself getting threatened with expulsion. The principal interrogated me and asked if I knew what port scanning was, and even accused me of lying when I said I didn't (I really didn't!). I told him as much as I knew - which wasn't much - because I didn't want to get expelled a few months before graduating.
Long story short, the friend that set the password got expelled, the one that found the vulnerability got suspended for a week, and everyone else got off scot-free. I heard a year or two later they started offering programming classes there.