This is what I did:
Made folder called "Public" and it is shared as "Public" and users have "Change and Read" permissions on the share.
Inside the "Public" folder is a folder called "Test Dropbox". It is shared as "Test Dropbox and "Everyone" has "Change and Read"
Under the Security Tab, "students" have Create Files/Write Data, Create Folders/Append Data, Write Attributes, Write Extended Attributes and Read permissions.
"Apply these permissions to objects and or containers within this container only is not checked.
In Advanced Security setting box....Allow inheritable permission from the parent to this object and all child objects is not checked.
Replace permission entries on all child objects with entries shown here that apply to child object is not checked.