So I was looking at the Former Professor talent and realized that while every other talent in the book seems to have a list of what kind of favors you can expect, Former Professor doesn't. Am I just missing something or are there no examples? If not, what suggestions would you guys give?

Depending on the College, they might have access to cutting edge labs, maybe they have connections to a mega-corporation, or maybe they can request a special permit to get into space. Although, for a smaller college, they might have access to discount medical care(nursing program), or maybe a fellow teacher used to work in a plot relevant field.