The Honors College is home to the Buchanan Fellowship program, named in honor of MTSU's Nobel Prize winning alumnus, Dr. James M. Buchanan. The Buchanan Fellowship, limited to 20 students per year, is the highest award given to an entering freshman at Middle Tennessee State University.

Buchanan Fellows, who must complete a separate application process limited to first-time freshmen, receive a host of special benefits including a full tuition waiver (up to 16 hours) guaranteed for four years (excluding summers), special seminars, priority registration, a book allowance, access to additional scholarships for study abroad, and much more (up to $5,000).

Buchanan Fellows will participate fully in the Buchanan Seminars—a specially designed cohort curriculum in which the students will take six general studies classes together. Most important, Buchanan Fellows will progress toward graduation according to the following benchmarks:

• completion of the 18-hour Buchanan Seminars requirement (lower-division courses) by the end of the sophomore year (13 hours to be completed during the freshman year and 6 hours during the sophomore year)
• completion of all other requirements for graduation with University Honors (or Distinction in University Honors), by the end of the senior year
• maintenance of a cumulative GPA of at least 3.25 (on a 4.0 scale) at all times

To compete for a Buchanan Fellowship, an applicant must:

1. complete the ONLINE Buchanan Fellows application form through the MTSU University Honors College by November 1, 11:59 pm Central Standard Time (CST) for early decision applications or December 1, 11:59 pm Central Standard Time (CST) for regular decision applications of the year prior to fall enrollment;
2. have a high school GPA greater than or equal to 3.5; and
3. have a composite ACT greater than or equal to 30 (SAT greater than or equal to 1360).

The preceding requirements are minimal. Successful applicants generally possess qualifications that equal or surpass those required for other MTSU academic scholarships. Students accepted to the program participate in a specially designed cohort curriculum of courses, which are limited to Buchanan Fellows.

Students who take a gap year, or years, after high school are eligible to apply.