Also known as the University of Waterloo. It is objectively one of the most prestigious schools in Canada, possibly even the world. This phrase comes from the fact that uWaterloo is better or equal to its American counterpart, MIT, in every way.
It is mainly known for its world renown ECE program.
Bob (UW student): Hi, I go to MIT of the North.
Frank (MIT student): I aspire to be like you. Out of respect, students here (at MIT) refer to our school as uWaterloo of the South.
Fogey/fogy /fougi/ sl. (early 18C+, orig. Scot) old-fashioned, stuck-in-the mud.
Person with old fashioned ideas which he is unwilling to change: Come to the disco and stop being such an old fogey!
You think me an old fogeyand an old tory, his thoughtful voice said. I saw three generations since O’Connel’s time. I remember the famine. Do you know that the orange lodges agitated for repeal of the union twenty years before O’Connel did or before the prelates of your communion denounced him as a demagogue? You fenians forget some things. (James Joyce, Ulysses. PenguinBooks,1992. p. 38)