Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
When you activate an Office licence that becomes associated to the Microsoft account used as a digital licence, and there is not native method available to move an Office licence from one Microsoft account to another account.
If your college have disabled the Microsoft account after you graduated, that account cannot be reactivated since it is connected to their organization, this forum is just a user to user forum, no-one here has any account access, you will need to contact Microsoft support directly to ask them if it is possible to move the Office licence to your personal Microsoft account, try using this method to contact their support.
Go to this link: https://support.microsoft.com/contactus
Select Microsoft 365
Click 'Get Home Support'.
In the box provided, type billing.
Press Enter, then on the next page, scroll down and click 'Sign in to Contact Support'.
Navigate to Microsoft 365 and Office - Manage my Subscription.
Select the 'Chat with support agent in web browser' option