http://www.urbandictionary.com/

Sand bagging is an all american slang that I hear a lot and eventually decided to look up at urban dictionary.com and ended up enriching myself with very interesting description of it and of many other terms and acronyms. I am quoting some of the interesting definitions I came across there:

• sandbagging
  
  13 up, 2 down
  
  in corporate sales: when reps report a much lower deal opportunity than actually exists. reps do this so that if the deal doesn't go through they don't look as bad and so at the end of the quarter when the company has to make their number the rep isn't selected to perform a high pressure last minute sales job.
  this market looks small for us, unless the reps are sandbagging us again.

• harvard
  
  19 up, 8 down
  
  An elitist university where one would go to waste "$150,000 on an education you coulda got for a buck fifty in late fees at the public library." For example: "I just wasted 150,000 dollars last weekend in Vegas!""That sucks, but I went to Harvard and it took me four years".

• MIT
  
  187 up, 57 down
  
  Massachusetts Institute of Technology. Prestigious and cool university in Boston with incredibly hot girls and a generally laid-back student body. Example: These people are much cooler than the stuck-up bastards at my school in the other end of Cambridge...
  Dude, let's check out the kick-ass frat parties at MIT tonight.I'm going to cross-register at MIT to get away from you assholes.

There are a lot more interesting terms I learnt ...which I will let it to the readers discretion to find out by themselves. Happy enriching of your vocab; your high school teacher will be so proud of you, I reckon.