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Acronym that originated in the 1950's at MIT meaning "I Hate This Fucking Place". Adopted by attendees of numerous schools afterwards; most notably by the three US service academies, where the letters find their way into not only conversation, but a great deal of graffiti-like uses and spirit missions, or both. Most cadets/midshipmen tend to believe their school (West Point, Annapolis, or USAFA) was the one to originate the term.
Firstie: Freshman, what are the five most important letters you'll learn here?
Freshman: Sir, the answer is, IHTFP!
Firstie: Are you allowed to use acronyms freshman ?!??!
Freshman: No sir!
Firstie: That's right. 30 pushups, now!
IHTFP by USAFA guy November 12, 2008

Intst. Irtilybinbsdb. Yaetmatwib. Ihtftyawhbiyah, if. Idwtbygu, aidwtcoac, biflihna. Iasiisuitp, aiastidsmpoyagitfwy. Iri. Aikiwpnhacwyea, bptmwyhoaaoti. 

I need to say this. I realized that i love you because I never been so depressed before. You are everything to me and that's why I blush. I hate the fact that you are with her but if you are happy, its fine. I don't want to break you guys up, and I don't want to come off as crazy, but i feel like I have nothing anymore. I am sorry if I screwed up in the past, and I am sorry that I did so many pranks on you and got into those fights with you. I regret it. And I know I will probably not have a chance with you ever again, but please tell me what your honest opinion about all of this is.
Intst. Irtilybinbsdb. Yaetmatwib. Ihtftyawhbiyah, if. Idwtbygu, aidwtcoac, biflihna. Iasiisuitp, aiastidsmpoyagitfwy. Iri. Aikiwpnhacwyea, bptmwyhoaaoti.
An acronym used by students at what are considered to be high-pressure instutions, including, but not limited to, MIT and the various military academies. Historically, the acronym stands for "I Hate This Fucking Place." However, a large number of backronyms have been applied to the term in recent years, the most notable including "I Have Truly Found Paradise," "I'm Here To Fly Planes," and "Ingeneous Hacks To Fascinate People." A long list of these more recent meanings can be found at www.mit.edu/people/mjbauer/ihtfp.html
IHTFP: I Hate This Fucking Place
IHTFP by ASFalcon13 July 28, 2008
A five letter abbreviation often used at academic institutions, most notably, MIT. Originally, supposedly, it stood for "I Hate This Fucking Place". Over time, other expansions surfaced, including "I Have The Finest Professors", "I Hate The Fucking Pressure", "I Hunt The Finest Pussy", among others.
IHTFP by tommyz July 21, 2003
acronym for "I Hate This Fucking Place", found in common usage at the Service Academies, particularly the Naval Academy.
IHTFP by Anonymous April 29, 2003
generally referred to as "I Hate
this Fucking Place", most notably used at military institutions
"Man watch again, IHTFP."
ihtfp by lurch April 29, 2003