I go to UF (University of Florida). For us, I've heard FU or U Fail (it's a challenging academic party school, so lots of people do). For FSU

, I've heard Florida's Slacker University, Failed the SATs U, Free Sex U, and the Criminoles (instead of Seminoles).
There's Saint Petersburg Junior College near Tampa, which is on Drew Street, and the students there call it Drew U. We call it Some People Just Can't (get into a real college, pass high school, etc.).