Instructions
Click the blue "College Chooser" button at the top of the neighborhood view. The college selection window will appear. Click the gray "Create College" button to open the "Create College" window.
Select a college from the list and press the blue arrow button at the bottom of the window. "The Sims 2" will load the college's files and associate that college with your neighborhood. You will automatically enter the college neighborhood when the college's files finish loading.
Click the blue "College Chooser" button at the top of the neighborhood screen. You can now choose between your initial college and the college you just added to the neighborhood.