What is Drop Paper?
1.
To spend a lot of money. Usually this is done at a bar when buying numerous drinks. One hand holds the money palm up, while the other hand flicks money into the barmaid's face.
"Mate, I dropped bare paper last night"
"Wanna go drop paper on some VKs?"
See 
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Referance to a community college. Especially Macomb Community College.
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