PhD stands for the Latin philosophiae doctor, or Doctor of Philosophy. But there are some amusing alternatives for the acronym: parents have doubts/ paid half of what I deserve/ probably heavily in debt/ piled higher and deeper/ permanent head damage/ pretty heavily depressed/ patiently hoping for a degree/ please hire - desperate/ pour him.her a drink/ pulsating heaving disaster. And if you are still stuck in high school, it could also mean pretty huge dick.
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