slang A diploma for graduating from high school or college. Alludes to the fact that diplomas were once printed upon actual sheepskin. It doesn't matter how many sheepskins you have hanging on your wall, it doesn't change the fact that you are an unbridled schmuck!It took me nearly eight years doing classes on nights and weekends, but I finally earned my sheepskin from UCLA!
sheepskin
n. a high school or college diploma. When you get that sheepskin on the wall, you’ll feel like it was all worth something.