Maintenance grants: The good old days when God was in his heaven and Portakabins were not even a twinkle in the principal's eye.
Management information systems: Vanguard of the Klingon invasion force.
Managing change: We haven't.
Marginal costs: That means you.
Marginal funding: Funny money (but nobody knows whether to laugh or cry).
Market research: You hear the worst before the inspector calls.
Mature students: A warm audience for your Mork and Mindy jokes.
Mission statement: Everything the principal thinks, but you were afraid to ask about.
Mission drift: Welcome to the PhD in scaffolding.
Modules (1): You get a bit now...
Modules (2): ...and a bit later.