Well honestly, I don’t tell people I’m asexual. I just tell them I don’t like sex. Guys actually run rather than rape for me. I think coming out really depends on your surroundings. Or do you feel restrained or uncomfortable by not sharing your sexuality? Do you have a LGBT on campus? It’d be nice and you wouldn’t feel as alone if there is one. It’s gonna be hard if you’re the only non-hetereo at your school. Ask your friends their opinions on homosexuality, that way you can predict what their reactions will be and whether or not you’ll be treated differently. I can’t say nothing will change but since you go to a small religious college it probably will. As long some of your friends don’t care then you’ll be fine.
Also, depending on how strict your family is a tricky thing. They may not exactly accept it but that’s okay. Because you don’t need acceptance to be who you are and everyone’s entitled to their beliefs. I would come out in pieces or not at all when religion is a factor. Would it be safer to come out when you’re more independent? That way you don’t have to face denial everyday. Maybe start with asexuality, then the homosexuality later after if they’ve accepted asexuality.