Green’s Dictionary of Slang

(US campus) parents.

[1861		Dickens Great Expectations (1992) 349: I’m going to take a liberty with you. Would you mind toasting this sausage for the Aged P?].
[1898		Boy’s Own Paper I Oct. 9: Dr. Harden had as much respect as Dickens’s Mr. Wemmick [...] ‘for aged P.s,’ and under this description, though not actually a parent, Mrs. Price would probably be classed in the worthy schoolmaster’s mind].
1989		P. Munro Sl. U.