[Plugin: Register Plus Redux] Looking to use custom user meta info as taxonomy

I was wondering if the custom fields that are created with the register plus redux plugin (or otherwise) can be used to access posts like a category or tag taxonomy. For instance, a user signs up and I have them select which college they attended. Then what I want to do is be able to display all posts from users that selected a certain college. Is this possible under the current version or do you know of any viable alternative ways to accomplish this?

Thanks in advance!
Matt