College of note, possibly (4)
I believe the answer is:
eton
'college' is the definition.
(Eton College, English private school)
'note possibly' is the wordplay.
'possibly' indicates an anagram.
'note' with letters rearranged gives 'ETON'.
'of' is the link.
(Other definitions for eton that I've seen before include "Public school founded by Henry VI" , "Collar - crop - jacket - school" , "Noted public school" , "Famous college" , "English college of note" .)