I would love it if there were a college specific channel for users. It would be easy to know who else is part of the community at one's college--and maybe meet with them.
While I appreciate the connection with people in a similar situation as myself, I think one of the major advantages of HN, and the hacker community as a whole, is that completely pervasive respect of one another. This community exists almost entirely outside of bias, and I think the first step towards reversing that is willingly dividing people based on their situation. I wouldn't want to risk the benefit of being able to communicate with folks in this forum as peers, I think it's really important to the culture.