How do I perform the Istikhara prayer when I am torn between five university specializations?

Seeking divine guidance (Istikhara) is legislated for all matters. It is permissible to perform Istikhara for multiple matters with a single prayer, or for each matter separately, which is preferable.

Istikhara should be performed for matters one has resolved to do, not merely for fleeting thoughts, based on the hadith of Ibn Mas'ud: "If one of you intends a matter, let him say..."