Since you're not willing to just buy your own phone, trying to force a work-supplied phone to be both a work and a personal phone requires a good amount of effort on your end as far as endearing yourself more to the administration and the IT staff.
Most universities have understaffed IT departments that need to maintain a lot of oversight over a large number of devices. This involves a lot of restrictions and limitations to keep private matters private, along with staff and user data isolated and secured.
Some users gripe and complain that they can't use those devices for personal usage with expectations that they're entitled to do what they want them, without taking any responsibility when they might inadvertently introduce some random exploit or compromise into the University's internal network. If people where to be made personally responsible financially for their own actions, that would reduce some of that entitlement attitude.-- there's a distinction between allowing some ransomware disaster into a network because of some clever social engineering hack or someone browsing through their personal Instagram account or whatever. The former is work-related matter, the latter is not.