http://www.winehq.org/
Just read the top of the page.
Yes, "Run Windows applications on Linux, BSD, Solaris and Mac OS X."
I'm not sure if your school would be happy with your tinkering with the console, but yeah, Mac gaming is very possible. I do it.
Just search in the bar on the upper-right of the main page for any PC game. If its silver or better, it'll be just fine.
There is the occasional error that prevents emulation, but the only recent titles I can think of that are significantly hampered are Resident Evil 5 and Arkham Asylum- both of which are available on consoles.
So yeah, if you put this on a modern Mac, you could play most all PC games.
I don't understand why people don't understand that this exists; compiling your own version of Wine is free, or you can buy Crossover for $60 all packaged up.