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1.
1. A worthless qualification that can be gained with minimal effort.

2. A bogus qualification.
He bought a McDegree in an attempt to find employment.
by I am a fish September 18, 2003
 
2.
A degree issued by a por-profit university that has a reputation for delivering a non-rigorous, accelerated, substandard education while charging an exorbitant amount of tuition and fees to students that in many cases would otherwise not be prepared to attend a traditional college or university.
His high school GPA was 1.5, but he was immediately accepted into AIU online. He finished his bachelor’s degree in 26 months and graduated with a 3.95 GPA Magma Cum Laude with student loan balances totaling over $50,000. Employers only laugh and make fun of his McDegree.
by ziggytpp October 10, 2011