Rearranging the letters of 'Ball State University' (College) gives:
I'll buy a transvestite.
(by Michael Sullivan by hand) (2001)
Other related anagrams without their own page:
"Heiress is Harvard Lampoon's "Woman of the Year"" -> "Everyone has some sham award for Paris Hilton!" (by Adie Pena using Anagram Genius) (2008) (pending approval)
"Florida Atlantic University" -> "Dire nation s trivial faculty." (by mick Tully using Anagram Genius) (2007) (pending approval)
"Florida Atlantic University" -> "Ocean virility. Fla. stud ran it!" (by mick Tully using Anagram Genius) (2007) (pending approval)
"The University of Florida" -> "Hone trivia study for life." (by Mike Mesterton-Gibbons by hand) (2008) (pending approval)
"Minnesota" -> "Most inane." (by L. Lomasky using Anagram Genius) (2005)
"Minnesota" -> "Is not mean." (by L. Lomasky using Anagram Genius) (2005)
"Minnesota" -> "Nominates." (by Alex Cutbill using Anagram Genius) (2004)
"Minnesota" -> "It means "No"" (by Steve Lent by hand) (2003)
"Minnesota" -> "It's no name." (by Zoran Radisavljevic by hand) (2002)
"Minnesota" -> "No inmates!" (by Ken Gallager) (2006) (pending approval)