Transport in Aalborg is very easy. Basically you have two choices: you can go by bus or you can go by bike. If you are looking for transport outside Aalborg here or here would be a good place to start.
Aalborg is a bike friendly city. There is biking paths almost everywhere and most of the times it is even quicker than taking the bus. The problem with a bike is to get one. Ask around if anyone have a spare (that happens), put up a note on our pin-up boards or visit the police auction for a cheap bike.
There is a lot of buses i Aalborg, an many of them cover the same area. To go back and forth between downtown, the college and the university bus number 2 would be a good choice. It is a metro bus that depart very often and the stop is only 100 m from the college. (note: køreplan is the danish word for a timetable)
Other buses are also available. They can all be seen on the home page of Nordjyllands trafikselskab. The routes can be seen on any city map or here.
When using the buses the cheapest way of traveling is either to use a ticket coupon or a monthly bus pass. The ticket coupon you can buy at any super market, kiosk or DSB ticket office. In danish it is called a "klippekort"
There is many kinds of maps of Aalborg. The best map for navigating by foot or bike is the "Aalborg guide". You can get it if you visit the turist information.