As you head down Route 5 towards SMCM the trees finally open up and you see the St. Mary's River on your right and some school buildings on your left. A few hundred yards later Rte 5 veers off to the left while another road splits off to the right and heads towards some campus buildings. Right at this split, along the smaller road on the right is the SMCM boathouse. You can find parking along the road there or just a bit farther up on your right.
Rig up at the boathouse and put in on either side of the piers depending on which way the wind is blowing. It gets pretty deep right away so you should have no need to walk anywhere looking for deeper water. You have land on pretty much all sides so there's no fear of getting blown out to sea, but the area is big enough to give you room to maneuver. I went to school here and sailed from here a great deal. By the way, the house on the big hill across the river from the boat house belongs to Ted Koppel.