Fit time around university (4)
I believe the answer is:
ague
'fit' is the definition.
(I've seen this before)
'time around university' is the wordplay.
'time' becomes 'age' (age is a kind of time).
'around' is an insertion indicator.
'university' becomes 'u'.
'age' placed around 'u' is 'AGUE'.
(Other definitions for ague that I've seen before include "Malarial fever or fit of shivering" , "Fever with shivers" , "Feverish illness" , "met with cheek in Twelfth Night" , "Sweating, shivering, fit (once)" .)