Founded in 1972, Mini University is co-sponsored by the Indiana University Alumni Association and Indiana University Bloomington Continuing Studies. In its first year Mini University attracted approximately 75 participants, and the program spanned a week. Participants brought their families to campus, lived in the dormitories and attended a variety of lectures and courses while their children attended programs at Shawnee Bluffs on Lake Monroe.

By 2008, the program had significantly changed- there is no longer a children's program and attendees now stay primarily in the Indiana Memorial Union where the majority of courses are taught. Open to all adults, not just Indiana University Alumni, and qualified teachers seeking continuing renewal credits, the program has now expanded to include more than 100 course selections, which include up to 15 noncredit classes ranging in topics from business and technology, domestic issues, fine arts, health and fitness, international issues, humanities, music, theater and science. Each year the professors are chosen based upon recommendations from the chairs of their department or other faculty for being outstanding teachers. In addition to courses, attendees also participate in social and community events, such as picnics, films, and theater trips.

Mini University has received significant national recognition and praise. The Council for Advancement and Support of Education awarded the institution a gold medal for Best Collaborative Program and a bronze medal for Best Practices in Alumni Relations, and in 2002, Frommer's Travel Magazine named Mini University as one of the best learning vacations in the United States. Further, in 2007, due to record enrollment of nearly 500 participants, registration was closed early for the first time in the program's 35-year history in an effort to preserve the small class atmosphere of the program.