I play team sports at my university. Do I have to stop now that I have type 1 diabetes?

No. You need not stop, but will have to work closely with your doctor to properly control blood sugar. Exercise, especially in competitive sports, significantly alters the balance of Insulin and blood sugar. Appropriate medication and carbohydrate management to keep you safe and sustain performance can be tricky, and must be tailored to your situation.
No. Many people learn to manage their diabetes and live full, active, and adventurous lives. Just pay attention to your diabetes and not ignore it.
NO. You may continue to play sports. You will have to comply with taking your Insulin therapy appropriately and you should inform your school and coaches of your medical condition. There may be limitations placed, but having type 1 diabetes is not a barrier to playing team sports.