PSA:The word 'god,' like other nouns in English, is capitalized when it is used as a name, but not when it is used as a classification. Thus the God of the Bible (because it is His name), but the god Zeus (his name is Zeus) one of the Greek gods. Just felt the need to note that.
Sure. The issue you run into is students then writing "the Greek g-ds" which is, as far as I know, not required by their religious beliefs - but I am hardly going to lecture someone else in their religion. 'Deities' can be an easy work-around.