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1.
The time right before university exams in which students no longer have to attend classes. Generally about a week long.

To 'swot' is to cram or study intensively.
Swotvac is a 'vacation' in which students are expected to study for their end-semester exams.

This term is used mainly in the UK and Australia.
During swotvac, uni students all stay home and try to cram in a semester's worth of learning.
by David Noel November 04, 2005
 
2.
A study period immediately before exams typically one week long. This term is mainly used in Commonwealth countries, especially the UK and Australia.
It commonly refers to an acronym for Study While On Term VACation or Study WithOut Teaching VACation.
I finish classes on Friday then we have SWOTVAC then exams!!
by Scott-dawg October 16, 2007
 
3.
Noun. Abbreviation of Study Vacation. A time when Uni students find anything to do but study for final exams.
SWOTVAC starts next week, then exams :(
by pumped June 15, 2008