Final occasion in which a model university student comes first (8)
I believe the answer is:
ultimate
'final' is the definition.
(similar in meaning)
'occasion in which a model university student comes first' is the wordplay.
'occasion' becomes 'time' (I've seen this in another clue).
'in which' means one lot of letters goes inside another.
'model' becomes 'T' (Ford Model T car).
'university student' becomes 'ul' (I can't justify this - if you can you should give a lot more credence to this answer).
'comes first' means one lot of letters go next to another.
'a'+'t'='at'
'time' going around 'at' is 'timate'.
'timate' after 'ul' is 'ULTIMATE'.
Can you help me to learn more?
(Other definitions for ultimate that I've seen before include "Last or highest" , "Final - mutilate (anag)" , "something extreme" , "Mutilate in last possible way" , "Last possible, final" .)