Short for "Country Club University". Derisively denotes a university known for its higher academic standards but more especially for the wealthy, beautiful, and often conservative students who often have the polos, cars and country club memberships to show off their status.
In Ontario, this distinction is often given to Queen's University and the University of Western Ontario. In the case of UWO, the university was literally built on the site of the old Hunt Club, so it earns its distinction twice.
"Kids at that school think they're so great- its nothing but a country club u."