I work at a Uni, that's just odd!!!
Lending the equipment - slightly odd, charging $1k late fee - very odd.
Courier it back or ring your lecturer/tutor/supervisor/school admin assistant to work out an alternate way to get it back.
If they need it back for their own purposes they will do it. If it's for another student, get that student to pick it up from you and not the Uni.
NEVER leave a sick child at home that young.