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The official name for Carleton University, Ottawa, Canada. It earned and upheld its name after Maclean's magazine ranked it dead last in its university rankings, for the second time, in 2007.
Little Jimmy goes to Carleton University, aka Last Chance U.
by Roseann Runte December 26, 2008
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2
A derisive name for a univeristy with a low standard of acceptance and few academic requirements, usually used by students at supposedly top-tier universities.

In Ontario, universities often earning this moniker include Laurentian, Lakehead, Carleton, Brock and Trent.

"Mike couldn't get into a good school, so now he goes to Last Chance U."
by Herwits October 15, 2007
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