Guard sauntered around with students (14)

I believe the answer is:

undergraduates

'students' is the definition.
(undergraduate is a kind of student)

'guard sauntered around' is the wordplay.
'around' is an anagram indicator.
'guard'+'sauntered'='guardsauntered'
'guardsauntered' with letters rearranged gives 'UNDERGRADUATES'.

'with' is the link.

I've seen this clue in The Telegraph.

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