do you have superuser access / root or shell access to the College server ?
You need to install the shoutcast server applicaiton (sc_serv) on the server. You then can either use Winamp with the DSP plug-in to send MP3 output to the sc_serv, or you can install the sc_trans (trancoder) that will take mp3 files from the server hard drive and play then to the internet.
You can also put both the sc_serv and DSP on your PC if you are running windox, MacOsX or Linux and do the same thing.
Be aware that your College may block this type of traffic, or get pissed off if you used their bandwidth
If you have a direct connection to the internet, then other people like myself could listen in. If you have a firewall between you and the internet, or collect network things get more difficult if at all possible.
Good luck with this.