Well, it sounds like based on university names alone, the Foxbury Institute will be a stand in for MIT, being STEM focused, while Britechester will be the more scholarly academic one. I'm guessing with the names alone, especially the suffixes -chester and -bury, that the location will be based either in a New England environment, or break from tradition of the past two versions, and be located in Britain, the latter especially could lend itself to a Cambridge stand in due to being both historical and bicycle friendly, though the actual activities included describe a more American university.
In regards to classes you can attend, it is still possible that it isn't limited to four subjects, though this may depend on how interactive or unique the subjects are - for example, TS2 that had 11.5 majors, where the only difference was which skills they required, and all your sim did was attend a rabbit hole class, write a paper, and attend a rabbit hole exam, meanwhile TS3 only had 6, but included open classes and seminars, unique objects and interactions.
