Indiana State University, a public four-year doctoral research university of more than 8,000 students, offers more than 100 undergraduate and 90 graduate majors contained within five colleges: The College of Arts and Sciences, Scott College of Business, Bayh College of Education, College of Nursing, Health, and Human Services, and The Bailey College of Engineering &Technology. Through an integration of classroom experiences with experiential learning opportunities, ISU prepares its graduates for today's and tomorrow's challenges. A commitment to community engagement and public service further enhances the learning experience for all ISU students. 

With the exception of nursing, those qualified to participate in the MHEC-Midwest Exchange Program, may chose to enroll in any undergraduate program of study. At the graduate level, eligibility applies only to master degree programs as all doctoral programs are exempt from MSEP. 

The Indiana Commission for Higher Education and each participating public college and university shall jointly establish a cap on the total number of students, who enroll each year through MSEP; this cap shall remain in effect unless changed by mutual agreement of the institution and the Commission. For Indiana State University the cap is 150 for undergraduate students and 100 for graduate students. By state policy, students enrolled through MSEP shall not displace qualified Indiana residents, i.e. MSEP students shall only be admitted into degree programs that have enrolled all qualified Indiana residents, who wish to pursue the program, and that still have capacity to enroll additional students.