A local university that is often a branch campus of a larger school which students attend solely to get a degree. Students often attend these schools after dropping or failing out of other, usually more prestigious, schools. So named because these institutions may seem like a last resort opportunity for a student to earn a college degree.
Derived from the University of Arkansas at Little Rock (UALR), a branch campus commuter college attended mostly by working adults.
Dude, what happened to your roommate, Jeff.
He failed out and is going to some University of Absolute Last Resort back home.