English people of fashion in college (4)
I believe the answer is:
eton
'college' is the definition.
(I've seen this before)
'english people of fashion' is the wordplay.
'english' becomes 'e' (abbreviation).
'people of fashion' becomes 'ton' ('the ton' could once mean fashionable society).
'e'+'ton'='ETON'
'in' is the link.
(Other definitions for eton that I've seen before include "Place for learning" , "Kind of collar or jacket (worn at college?)" , "School - note (anag)" , "Note sent up to English public school" , "College in Berkshire" .)