Belie crudely overshadowing good university's charm (7)
I believe the answer is:
beguile
'charm' is the definition.
(I know that charm can be written as beguile)
'belie crudely overshadowing good university's' is the wordplay.
'crudely' is an anagram indicator.
'overshadowing' indicates putting letters inside (the inserted letters are absorbed or overshadowed).
'good' becomes 'g' (abbreviation).
'university' becomes 'u' (abbreviation for university).
'belie' is an anagram of 'beile'.
'g'+'u'='gu'
'beile' placed around 'gu' is 'BEGUILE'.
(Other definitions for beguile that I've seen before include "Charm or captivate" , "Win the attention of, charm" , "Charm, win the interest of" , "Charm, entrance" , "Hoodwink" .)