From The Collaborative International Dictionary of English v.0.48 [gcide]:
1. A collection, body, or society of persons engaged in common pursuits, or having common duties and interests, and sometimes, by charter, peculiar rights and privileges; as, a college of heralds; a college of electors; a college of bishops.
2. A society of scholars or friends of learning, incorporated for study or instruction, esp. in the higher branches of knowledge; as, the colleges of Oxford and Cambridge Universities, and many American colleges.
From WordNet (r) 3.0 (2006) [wn]:
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