Gold that is left for Oxford college (5)
I believe the answer is:
oriel
'oxford college' is the definition.
(I've seen this before)
'gold that is left' is the wordplay.
'gold' becomes 'or' ('or' is the heraldic name for gold).
'that is' becomes 'ie' ('i.e.' can be a synonym of 'that is').
'left' becomes 'l' (common abbreviation).
'or'+'ie'+'l'='ORIEL'
'for' acts as a link.
(Other definitions for oriel that I've seen before include "Loire (anag.)" , "Upper-story bay window" , "Large recess - type of window" , "Upstairs bay window" , "Projecting window in upper storey" .)