European fashion college (4)
I believe the answer is:
eton
'college' is the definition.
(I've seen this before)
'european fashion' is the wordplay.
'european' becomes 'e' (abbreviation e.g. EU).
'fashion' becomes 'ton' (I've seen this before).
'e'+'ton'='ETON'
(Other definitions for eton that I've seen before include "collar, perhaps?" , "Public school near Windsor" , "Public school founded by Henry VI" , "Place for learning" , "Famous English public school" .)