Green’s Dictionary of Slang

swag n.3

[abbr. scientific wild-ass guess]

1. (US campus) a wild guess, used to answer homework or examination questions.

[US]J. Doyle College Sl. Dict. [Internet] SWAG [Purdue] answer to homework or exam question usually written down minutes before it is due (orig. Scientific Wild Ass Guess).

2. (US) gossip, popular lore.

[US]A. Steinberg Running the Books 108: Every piece of prison swag I’d heard suddenly swirled into my head.