WRCT 88.3 is run out of CMU, but it's not all students. Community members are welcome to train to become DJs.
I love listening because the shows are so eclectic. Each DJ has full control over his/her playlist so you can hear everything from power pop to Brazilian music to death metal. They also host public affairs shows, and sometimes have live bands. (Check their website for the schedule of shows.) Between the live DJs and shows, they also play great music.
The station can be heard approximately 15 minutes from campus or streamed from their webpage at http://www.wrct.org.