Final occasion in which a model university student comes first (8)
I believe the answer is:
ultimate
'final' is the definition.
(similar in meaning)
'occasion in which a model university student comes first' is the wordplay.
'occasion' becomes 'time' (I've seen this in another clue).
'in which' is an insertion indicator.
'model' becomes 'T' (Ford Model T car).
'university student' becomes 'ul' (I can't explain this - if you can you should believe this answer much more).
'comes first' means one lot of letters go next to another.
'a'+'t'='at'
'time' placed around 'at' is 'timate'.
'timate' after 'ul' is 'ULTIMATE'.
Can you help me to learn more?
(Other definitions for ultimate that I've seen before include "Last or highest" , "Final - mutilate (anag)" , "something extreme" , "Mutilate in last possible way" , "Last possible, final" .)