You can do it, but it won't make a lot of sense.
Your SQL query returns a 2-D table with the same columns for each row. If some of your rows are students and some of them are faculties, then there will be a bunch of columns that make sense for students but don't make sense for faculties, and for a faculty row those columns should be null.
The SQL to do this for two tables is:
SELECT t_F.college_id AS college_id, t_F.f_1, t_F.f_2, NULL , NULL
FROM tbl_Faculty AS t_F
UNION
SELECT t_S.college_id AS college_id, NULL , NULL , t_S.s_1, t_S.s_2
FROM tbl_Student AS t_S
ORDER BY college_id
Then your results will look like:
college| Faculty field 1 | 2 | Student field 1 | 2
--------------------------------------------------------------
1 | abc | def | NULL | NULL
1 | abc | ghi | NULL | NULL
1 | NULL | NULL| asdoifjas | aosdifjasdf
1 | NULL | NULL| asdoifjas | aosdifjasdf
2 | abc321 | aaa | NULL | NULL
2 | abc456 | bbb | NULL | NULL
2 | NULL | NULL| afasdfafs | aosdifjasdf
2 | NULL | NULL| asdoifjas | aoffavsdfff
This doesn't make that much sense to me.