Do not bypass the firewall. Some other answers have already covered the technical options, but this is inadvisable - all of the filtering products I have seen will either block bypass, or allow it but notify an administrator, which will get you in to trouble. It may seem like a smart hack to do something that you aren't allowed to do, but the authorities will stomp on you - either by banning you from the network, which will make your studies difficult, or expelling you from the college. Either way, the potential impact on your long term life isn't worth the short term gain of having an unfiltered internet connection at college.
The only real technical option is to use your own internet connection via a 3G mobile or similar technology. You could install a local proxy, and route your HTTPS connections over the 3G link, and everything else over the college network.
SSL interception by internet filters in education institutions is becoming a widespread practice. If you want to take a stand against this, investigate your legal options. In many jurisdictions, interception of private communications without the consent of both parties is a violation of wiretap law. Even if the argument holds that you wilfully consented to the interception by installing the SSL certificate, it is certainly the case that the remote web site did not. As far as I know, no student has ever challenged SSL interception on this basis, but someone has to be the first. I was once told by senior staff at a filtering company that if SSL interception is illegal, it's not their problem - it's their customer who is breaking the law - and they have to offer it as an option or else they will lose sales.
The security on these internet filters/firewalls is often appallingly bad:
Some use the same SSL certificate for all of their customers. Trivial to extract with admin or physical access. If one firewall is compromised, every firewall is.
Use of old software with known security vulnerabilities. I know of one commercial provider with a current product line based on software released in 2004. If you can get user access, root access is trivial.
Insecure remote access. Support teams typically use the same installation and remote maintenance password for all customers. An attacker who knows that password can remotely access any customer system.
There is a "white list" of sites that SSL interception is not supposed to be done on (such as major banks). However, if you have access to the system it is trivial to modify the software to ignore or drop the white list.
I know of at least one case where an external attacker managed to gain access to the development server holding the source code for a major firewall product. The lead developer told me, "we have no idea how far they got in the internal network, or what they did once they were in."
The take home message is that these devices are quite vulnerable to a determined hacker, and once access is gained, they could trivially intercept every password of every SSL connection of hundreds of thousands of users. I'm surprised that we haven't heard anything yet about this kind of attack being carried out, but perhaps it already has and the hackers are too busy emptying bank accounts to brag about it. Public knowledge of such an attack would be hugely damaging for any firewall/filter supplier, and they would do everything they could to cover it up.
Update Dec 2015: Backdoors found in Juniper firewall, present since 2012.