Make sure to follow the steps below exactly as they read, or else the install may not work.

Double-click My Computer.
Right-click on the Local Disk C and choose Open.
Right-click inside the window and select New, and then Folder.
Name the folder Disk Images it is important that the name has a space in it.
Double-Click the new Disk Images folder to open it.
Right-click inside the window and select New, and then Folder.
Name this folder Disk1.
Repeat steps 6 and 7 while substituting Disk1 for Disk2. It is important to note there must not be a space between "Disk" and the number.
Insert Disk 1 of The Sims 2 University into your CD-ROM drive and if the autoplay starts, cancel it.
Double-click My Computer to open it.
Right-click on your CD-ROM drive and choose Open.
When you see the contents of the disk in the Window, click on Edit at the top of the window and choose Select All.
All the contents of the disk should now be highlighted, click on Edit at the top of the window again and choose Copy.
Open the Disk1 folder you created under C:\Disk Images; click on Edit at the top of the window and choose Paste. This will copy the contents of the CD into the Disk1 folder.
Repeat steps 9 through 14 for Disk 2 until you have copied each disk into its appropriate folder.
Once the disks have been copied, remove ALL CDs from any drives.
Open the Disk1 folder under Disk Images and double-click on autorun.exe to start the installation.
To save disk space, you can delete the Disk Images folders after the installation has completed.