Former student, educated wipe-out (10)

I believe the answer is:

obliterate

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'wipe-out' is the definition.
I can't judge whether this defines the answer.

'former student educated' is the wordplay.
'former student' becomes 'OB' (abbreviation for 'Old Boy').
'educated' becomes 'literate' (similar in meaning).
'ob'+'literate'='OBLITERATE'

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(Other definitions for obliterate that I've seen before include "Root out" , "Eradicate" , "Destroy all traces" , "rub out" , "Annihilate" .)

I've seen this clue in the Sydney Morning Herald.

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