Office 365 is a free suite of programs that includes Office applications. There are two ways that you can use Office 365. You can work in the cloud by using Word Online, Excel Online, PowerPoint Online, OneNote Online and more. In addition, you can install all of the same apps locally on up to 5 PCs or Macs, 5 tablets, and 5 mobile devices.
Faculty and staff may still use a local version of Office Professional by installing the Campus Agreement offer for University-owned computers through the WebStore.
Exchange online is the new common email and calendar solution that will be available to faculty and staff starting Fall 2015. This is a separate service from Office 365.