A folder containing wallets that are bound to the inside cover. Often made of plastic and sometimes the front and back covers corrugated in design. A sign that you're moving up in the world, socially, academically and professionally - only the best students deserve to own filing equipment named after the great mathematician, chemist, physicist, biologist and flautist.
"I have a Lauren-folder now"
"Oh, you must be serious about doing well in your life now. :D"