Is it ethical to host ads on institute provided homepage?

I am affiliated to an institute and they provide each student an opportunity to make their on homepage which they can put up as http://ift.tt/1FJ7QRZ]. Now, this webpage is not reviewed by the institute. I made my homepage recently and I am wondering if it is ethical to put ads on it.

On one hand, it is my own website while on the other hand it is hosted on their server and I don't have to pay anything to get this.