The politically correct term for being bald.
You: Nice hat! Why are you wearing it?
Your Math teacher: *Lifts hat to show baldness*
You: Oh... youre bald.
Your math teacher: We prefer the term Folically Challenged, thank you very much. Now do your math homework!
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As in hair folical. One's head of hair has folicals in their scalp. When you lose hair folicals, you become bald. A person with this condition is folically challenged.
George Costanza from the show Seinfeld was folically challenged, also vertically challenged because he was short.