Green’s Dictionary of Slang

(US campus) a library.

1914		E. Wittmann ‘Clipped Words’ in DN IV:ii 122: libe, from library. [...] ‘You may find that book in the libe’.
1927		W.R. Morse ‘Stanford Expressions’ in AS II:6 277: Lib or Libe — the Library.
1932		J.A. Shidler ‘More Stanford Expressions’ in AS VII:6 437: The Library is sometimes called the Phi-bete House, otherwise just the ‘libe’.
1945		‘Campus Sl. at Minnesota’ in AS XX:3 Oct. 233/2: Our purpose in going libeward was to do some noodlework for the white plague which was practically upon us.
1968		Current Sl. III:1 9: Libe, n. Library.
1983		R. Price Breaks 81: You probably should get back to the libe, right ?
2015		S. King Finders Keepers (2016) 94: The libe meant free computer time, among other perks.