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University of Absolute Last Resort 

A local university that is often a branch campus of a larger school which students attend solely to get a degree. Students often attend these schools after dropping or failing out of other, usually more prestigious, schools. So named because these institutions may seem like a last resort opportunity for a student to earn a college degree.

Derived from the University of Arkansas at Little Rock (UALR), a branch campus commuter college attended mostly by working adults.
Dude, what happened to your roommate, Jeff.

He failed out and is going to some University of Absolute Last Resort back home.
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The last resort 

To steal someones most prized possession after gettting your ass kicked to the point of crying by that person.
Brah just kicked my ass but for the last resort I ganked his shit hahaha.
The last resort by Kimbo Splice October 29, 2010

last reshorts 

last resort-shorts. the shorts you wear on laundry day.
nothings clean, all i have are my last reshorts.
last reshorts by theRealNaaadz November 26, 2015