Hammer donated to student (5)
I believe the answer is:
gavel
'hammer' is the definition.
(I know that gavel is a type of hammer)
'donated to student' is the wordplay.
'donated' becomes 'gave' (give can mean to donate).
'to student' becomes 'L' (as in L-plates for learner drivers).
'gave'+'l'='GAVEL'
(Other definitions for gavel that I've seen before include "An auctioneer's wooden hammer" , "Small mallet" , "Chairman's hammer" , "Mason's hammer" , "equipment for auctioneer" .)