You can switch universities between terms, for example if you are not accepted for a specific course with a distinguished degree on one University because your skills are too low, then you can read the course on the other university and then switch university. You often have to move your sim somewhere after the first term, reapply again so that the university will notice that your skills are better but after that you will most likely be accepted and can continue the course with a distinguished degree on another university. The only downside is that you will lose your current scholarship but that tends to not be that much money anyway.
As for the universities, I like the modern look of Foxbury and the dorms there, they have a large area in the middle where your students can talk with each other. But it is more difficult to study there though because of the stairs and the longer time it takes for your students to get to class. Britechester is easier to play but I don't like the look of the dorms with the small corridors. You can of course rebuild the dorms though, and use mods to get your sims to run faster to class.
