COLLEGE AND UNIVERSITY:

College (Latin: collegium) is a term most often used today in the United States to denote a degree-awarding tertiary educational institution and in other English-speaking countries to refer to an academically oriented secondary school. More broadly, it can be the name of any group of colleagues, for example, an electoral college, a College of Arms or the College of Cardinals. Originally, it meant a group of persons living together, under a common set of rules (con- = "together" + leg- = "law" or lego = "I choose"); indeed, some colleges call their members "fellows". The precise usage of the term varies among the English-speaking countries. In the United States and Ireland, for example, the terms "college" and "university" may be regarded as loosely interchangeable, whereas in the United Kingdom, Canada, Australia and other Commonwealth countries, a "college" is usually an institution between school and university level (although constituent schools within universities are sometimes known as "colleges").

A university is an institution of higher education and research, which grants academic degrees in a variety of subjects. A university provides both undergraduate education and postgraduate education. The word university is derived from the Latin universitas magistrorum et scholarium, roughly meaning "community of teachers and scholars." Ref: http://en.wikipedia.org/wiki/University