A period of time during a school year when academic responsibilities are pushed aside in favor of non-academic pursuits. In slacker terms, an entire semester of going to the bar every night instead of studying. See also, alcoholism.
While it may happen at any point in a college, graduate, or high school career, typically a slackmester occurs in the last semester of a given school period, when students suddenly realize how pointless hard work really is.
Dave: "Tacos and then the bar later tonight?"
Adam: "Hmmmm Tuesday night, two papers due tomorrow at 8 AM, and I haven't slept since Sunday... count me in. I'm obligated as part of my slackmester.
Someone who goes slumming it with people who have less education, attractiveness and life opportunity in order not to deal with peers, not work hard in the workplace, and to attract romantic partners who are low maintenance.
That period of time around the last couple weeks of classes and during exam week where you feel so overloaded and stressed that you would rather lay in bed with cookie dough ice cream and watch Family Guy than do anything productive. This is a very dangerous condition that may result in severe loss of motivation, feelings of helplessness, poor diet, weight gain, exhaustion, and the end of the world.
"Hey, girl, are you excited for the end of classes?"
"Bitch, please, I am going through some severe End-of-Semester Depression. There is no way I can get all of my shit done."