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diploma mill 

1. A company where you can buy a fake degree for a small fee as a fancy way to lie on your resume.

2. A For-Profit University or College that is not accredited and/or recognized that leaves you in a dead end job with student loan debt for the rest of your life.
Me: I bought my degree online off of a diploma mill so I can get a job as a mechanical engineer.
Interviewer: This is not a real college and you just bought that degree off of a diploma mill.

Friend: Is devry a good university?
Me: No, it's a diploma mill. Why not apply for University of North Texas instead.
Friend: Okay
diploma mill by Vashfromtrigun January 30, 2019

Diploma Effect 

When you grind really hard for 4-5 years for your Bachelor’s Degree and once you finally graduate, your diploma doesn’t come in the mail for weeks. This leaves you in a state of limbo. Did I graduate? Should I be submitting an assignment right now? I think I graduated. It just doesn’t feel real yet.
“Hey man! How do you feel to be completely finished with college?”

I don’t know, I feel strange. I think it’ll hit me sooner or later. It’s that Diploma Effect.

Diploma Edging 

When a senior or upperclassman drops out of High School right before graduating
Person 1: You hear Chad dropped out?
Person 2: What?! Graduation is literally in a few days! Why?!
Person 1: I don't know, he was Diploma Edging I guess

Toilet Paper Diploma 

A diploma worthy only to use as toilet paper. A meaningless diploma. A diploma that is not recognized in any meaningful way.
Yay I got my toilet paper diploma in fine arts!

I didn't even have to take a test to receive that toilet paper diploma.

I don't know why Mike hangs that toilet paper diploma in his office. It's not recognized by anyone outside this office, and by almost noone inside this office.
Toilet Paper Diploma by Eddy August 5, 2007

good enough diploma

GED or General Equivalency Diploma
Having a good enough diploma is better than being a high school dropout.

High School Diploma 

The Associate's degree's bastard step child.

Your allegorical left thumb. As in, if you have a high school diploma, you have a left thumb and no one cares, but if you don't have a high school diploma, then everyone asks why the hell you don't have a left thumb.
Ted: I just got my high school diploma!
Ben: Great, now you can get that lawn mowing job!

Ben: Even though I'm making six figures at this engineering job, I actually never got my high school diploma.
Ted: Omg are you serious? How stupid are you that you can't get a high school diploma!
High School Diploma by sprinkies November 30, 2011