No. It (college ID) is not a government-issued ID. It is prone to to cause problems with some TSO's for sure.
How about using a passport?
I added the bold text. My college ID (faculty, not student, but that's not relevant) is definitely government issued. In fact, it was issued by a LEO (photo taken and card printed/handed to me my a LEO).
I bet most college IDs are government-issued.