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What is 3Lol?
The accurate description of the third year of law school, where students don't have the motivation to go to class or do the readings, and don't really learn much. This is usually because they already have a job (and grades don't matter), other they're just burned out.
The years of law school are called 1L (first year), 2L (second year), and 3L (third year). So this plays off that.
This is similar to the saying in law school "The first year they scare you to death, the second year they work you to death, and the third year they bore you to death."
I skipped two classes yesterday so I could watch a Harry Potter marathon that was on TV, 3Lol.
I haven't read for my professional responsibility class in three weeks. 3Lol, amiright?