The previous answer of Heidelberg, Germany is wrong.
Since Heidelberg was founded in 1386 ( http://en.wikipedia.org/wiki/Ruprecht_Karl_University_of_Heidelberg ) and the University of Cambridge is celebrating its 800th anniversary this year ( http://www.cam.ac.uk/ ) Heidelberg isn't even close.
The answer is very probably the University of Bologna ( http://en.wikipedia.org/wiki/University_of_Bologna ) about 3 centuries earlier than Heidelberg.
See also http://en.wikipedia.org/wiki/List_of_oldest_universities_in_continuous_operation
University of Bologna, Bologna, Italy
The first higher education institution in medieval Europe was the University of Constantinople, followed by the University of Salerno (9th century), The first degree-granting university in Europe was the University of Bologna (1088).
The University of Bologna, in Italy, is the oldest degree granting university. It was founded in 1088. The oldest in Britain is Oxford. The oldest in America is William & Mary.
Christianity is the oldest religion in Europe.
University Of Santo Tomas in the Philippines ,founded 1611 In fact, the oldest Catholic University in the world is that of Belgium's University of Leuven, founded at Pope Martin V's order in 1425. The oldest Western or Catholic university is that of Bologna, Italy, founded around 1100 A.D., followed by those of Paris, Oxford, Santiago de Compostela and others in Italy and Spain.
Athens is typically regarded as Europe's oldest city.
Your mom is the oldest and biggest to graduate from university.
The University of Colorado Boulder is the oldest university in Colorado.
No, Santa Clara University and the University of the Pacific both boast of being the oldest.
American University of Beirut
The University of Washington in Seattle is the oldest public university on the West coast, founded in 1861.
While the University of Georgia (1909) is the oldest state chartered university, the Agnes Scott College (1907) is the oldest in the state. However, Augusta State University (1926) is the oldest specifically in the town of Augusta.