A term originating from
Northeastern University (a school known for co-ops) which depicts a student who is scheduled to go out on
co-op with a company, but has not yet found a job.
Since a student is on no-op, then he/she has the ability to do whatever they want, such as sleeping in til noon, playing video games, etc. It's like
funemployment, only for college students, and not recieving any money.
