Lady friend goes round university once a year (8)
I believe the answer is:
annually
'once a year' is the definition.
(I've seen this before)
'lady friend goes round university' is the wordplay.
'lady' becomes 'ann' (**).
'friend' becomes 'ally' (I've seen this before).
'goes round' is an insertion indicator.
'university' becomes 'u'.
'ann'+'ally'='annally'
'annally' going around 'u' is 'ANNUALLY'.
(Other definitions for annually that I've seen before include "at regular intervals" , "As Christmas is coming" , "Every year" , "as MOTs must be renewed" .)