The lag for your gaming is not something you can improve from your end. It is occurring upstream from you. Perhaps it is intentional by your university network when they give priority to web pages (this is common on university networks to manage bandwidth for the traffic that matters - academics, not recreation). Perhaps it is just a congested network that you don't notice it so much for ordinary web surfing but it is more noticable when gaming. Perhaps it is something way upstream in the general routing from your university to the game server. These are not things that you can influence.
My university has a pretty decent connection to the internet. Our webpages load very quickly and I can get some downloads to at least 46kbps download/upload and often much much higher. However, any games I try to place give me a ping between 500 - 1500 and often time out. This goes for almost any online application. Is there any way via my personal wireless router to help improve this "lag"?