Morehead's program of distinction is space science. Morehead faculty and undergraduate students have collaborated with students and scientists from around the world to build and launch satellites to explore and carry on important investigations in space. A 21-meter tracking antenna is located on the campus.

Included in the base General Fund budget is $5,442,700 in each fiscal year for the Craft Academy of Excellence in Science and Mathematics; $2,947,800 in each fiscal year for the Fixed Allocation Pension Subsidy; and $1,274,400 in each fiscal year to support the Commonwealth's Property and Casualty Insurance Fund premium. Together, these make up Morehead State's Mandated Programs which total $9,664,900 in each fiscal year.