look up any word, like turnt:
 
1.
private schooler, one who attend(-s/-ed) a private school; usually derogatory

*don't shoot the messenger*
hey, you see calvin? he's a privi
by AzN LeMoN SkIn January 19, 2005
 
2.
A deminutive for Privilege Nightclub (Toronto,CANADA)
Girls what are we doing tonight?
Oh we going to Privi!
by Kar&Claud January 14, 2007