Beloit does offer a diverse variety of dining opportunities. As for close to the college, the downtown has some good options. Denali's is reasonably priced with a wide variety of options that are very tasty. Bagels and More for a great sandwhich. La Casa Grande on Fourth Street has awesome Mexican food, (everything). For a wonderful Italian meal try Domenico's. If your looking for something more upscale, Cafe Belwah and the 615 Club are within walking distance of the college. If you want entertainment, The Gun Club is another place with fine dining and a casual atmosphere, and it has an AWESOME blues night every Thursday. If you can, go there. My favorite chain restaurant is Atlanta Bread Company, its alot like Panera but with a larger menu.
There's not much within the immediate Beloit area. Hanson's Tavern makes a decent burger but it's nothing to write home about.
If you're willing to go to Rockford, however, I'd recommend Mary's Market on E. State Street. The service can be a little iffy but the food is excellent.
(Have fun visiting the college -- I'm an alum who loved my four years there.)
A couple of years ago, I had season tickets to the Beloit Snappers and have attended 10-15 Beloit College basketball games in the past few years ago. At this point, I have yet to find a restaurant that I was happy with. Therefore, we generally have eaten at Fazolli's, Culvers, or one of the Chinese buffets in the area which have been disappointing.
Last year, a friend gave me a couple of ideas that I have NOT tried but came well recommended. Both are within three or four miles of the campus.
615 E Cranston Rd.
Los Chicanos Cafe
2715 Prairie Ave.
Janesville and Rockford are not the greatest either. However, you are within 45 minutes of Delavan and Lake Geneva, both resort areas.
Beloit College is pretty good school and the campus is very friendly.