College bill rising (4)
I believe the answer is:
eton
'college' is the definition.
(I've seen this before)
'bill rising' is the wordplay.
'bill' becomes 'note' ('note' can be a synonym of 'bill').
'rising' is a reversal indicator (going up in a down clue).
'note' in reverse letter order is 'ETON'.
(Other definitions for eton that I've seen before include "Leading English public school" , "College, collar or crop" , "College in Berkshire" , "Town on the Thames noted for its school" , "British public school of note" .)