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An abbreviation of the phrase: "I'll figure it out." Most commonly used in IM conversations between two people doing a homework assignment or a group project. The acronym originated in Brooklyn College, a liberal arts school in Brooklyn, NY. The antonym of this phrase is dilligas.
You: "Hey man can u help me with #4 on the physics utexas?"
Me: "Hold on, i haven't done it yet but IFIO."

Ella: "When will u have ur slides ready?"
Frank: "IFIO by next thursday."

Broke College Kid: "FML i'm screwed. what do i do?"
Guy With no Life: "Dnt wry bro IFIO 4 u."
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