Coeds

So I've been thinking that 'coed' is used to describe a student at a coeducational school. So it's a term should apply to both males and females, right? So why is the term 'college coed' always used to apply to a female? So I'm guessing it refers to when all males schools began integrating females into their schools, and thus, at the time, the females were the students that made the school coed, and thus ended up being called coeds. But this makes no sense to call someone a coed from a school that has always accepted males and females, right? And what about a school that has traditionally been a women's college. If they start accepting males, would the males then be the coeds? The term just makes no sense.