Yes, it is possible. You must use AAA server (RADIUS or TACACS+), where the user (or group) specific policies can be managed. On a Cisco IOS router, Authentication-Proxy is a method to control access to network resources based on user authentication credentials downloaded from the AAA server.
Go to the link below for more info on AAA.
http://www.cisco.com/univercd/cc/td/doc/product/software/ios123/123cgcr/sec_vcg.htm#wp1000714