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I know it's a bit early to make this but, it's been confirmed.

According to wikipedia:

Originally Posted by Reliable?

A sequel was officially confirmed in 2010. The original release date of the film was November 16, 2012, but it was later changed to November 2, 2012 to avoid competition with The Twilight Saga: Breaking Dawn. On April 5, 2011, it was announced that the film's release date had been pushed back to June 21, 2013 due to the success of Pixar films that are released in the summer, according to Disney distribution executive Chuck Viane.
In early 2011, there were claims that Monsters, Inc. 2 was going to be a prequel which focuses on Sulley and Mike's studies at the University of Fear, where they start off as rivals but soon become best friends. On March 29, 2011 it was confirmed that the film will be a prequel and the new title Monsters University was revealed. The feature will be directed by Dan Scanlon. It was also announced that John Goodman, Billy Crystal, Steve Buscemi, Jennifer Tilly, Frank Oz and John Ratzenberger will be reprising their roles. This will be Pixar's first prequel film.

Well I've seen articles about this so I'm not just going by Wikipedia's word, but yeah. Thoughts?

Sounds good as long as it's done correctly. Not often a fan of prequels. This one sounds good though. Monsters Inc. is my favourite film, I hope this isn't a disaster.