The Magister is holding on to the Seer's ring, but it would be better off in our hands.
The door is locked, yes, but we may be able to get through the window.
By getting on to the roof - look for something in the corridor that may be concealing a window.
You can get access to the roof by pulling down the guard's doublet in the corridor.
We'll need something to pull them down - have a look around town for something that could pry the boards off the window.
If you talked to Olgierd earlier and were able to help him, you'll have what you need already.
Otherwise, you'll need to take the pichfork from where he was sitting.
Return to the academy and use them on the boards to get inside.
It doesn't seem like it - all we can hope to do now is make sense of his ramblings.