I know the story that USF was the first state university south of Gainsville, but it is still the most woefully misnamed college in the country. It was founded in 1956, after all, it is not like the term "south Florida" to mean the greater Miami-Ft. Lauderdale-WPB region did not yet exist, nor that they could not anticipate the eventual need to add more colleges further south than Tampa, as today they have four, including two (Florida Atlantic and Florida International) in actual south Florida, plus FGCU in south west Florida. While I am at it, what exactly is "international" about Florida International? Yes, it has a lot of US born Hispanic, mostly Cuban, students, but no more actual foreign students than any major university (6%). It is just like they were looking to have all the schools be Florida something and it was available.
Other woefully misnamed colleges, IMHO:
Eastern and Western Kentucky, both of which are in central Kentucky. Morehead State and Murray State are actually in eastern and western Kentucky respectivly.
The University of Texas - Southwestern Medical Center. Originally a private school called "Southwestern" it merged into Texas. While, yes Texas is certainly in the southwest in national terms, within Texas, Dallas is in north Texas, and the UT system has six other medical schools, either south or west or both of Dallas.
While we are at it, Northwestern. Even when founded in 1850, the northwest meant Washington and Oregon.