Cut down drastically to accommodate university (5)
I believe the answer is:
wound
'cut' is the definition.
(thesaurus)
'down drastically to accommodate university' is the wordplay.
'drastically' is an anagram indicator.
'to accommodate' means one lot of letters goes inside another.
'university' becomes 'u'.
'down' anagrammed gives 'wond'.
'wond' going around 'u' is 'WOUND'.
(Other definitions for wound that I've seen before include "Went round" , "Twisted; injury" , "Turned about" , "injury to reputation" , "Slight injury" .)