College graduate sick about having nothing left (7)
I believe the answer is:
'college' is the definition.
(I've seen this before)
'graduate sick about having nothing left' is the wordplay.
'graduate' becomes 'BA' (someone with a Bachelor of Arts degree).
'sick' becomes 'ill' (synonyms).
'about' shows that the letters should be reversed in order.
'having nothing' becomes 'lo' (I can't justify this - if you can you should believe this answer much more).
'left' says the letters should be written backwards.
'ill' backwards is 'lli'.
'lo' back-to-front is 'ol'.
Can you help me to learn more?
(Other definitions for balliol that I've seen before include "Wycliffe and Jowett were both Masters of this Oxford college" , "C13 Oxford college" .)