Large university, free to be sensational (5)
I believe the answer is:
lurid
'be sensational' is the definition.
(similar in meaning)
'large university free' is the wordplay.
'large' becomes 'L' (eg in clothes sizes).
'university' becomes 'U' (abbreviation for university).
'free' becomes 'rid' (to be free of something is to be rid of it).
'l'+'u'+'rid'='LURID'
'to' is the link.
(Other definitions for lurid that I've seen before include "Unpleasantly vivid in colour" , "Ghastly bright" , "Glaringly vivid and graphic" , "In glaring colours, shockingly vivid" , "Glaring in colour, shockingly vivid" .)