Crossword Genius

Last short epistle used in uni­versity, after appropriate period (8)

Ross

I believe the answer is:

ultimate

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'last' is the definition.
('ultimate' can be similar in meaning to 'last')

I can't explain the rest of the clue.

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(Other definitions for ultimate that I've seen before include "Best or most extreme" , "Happening at the end of a process, final" , "Best - last" , "Final; fundamental" , "Utmost or extreme" .)

I've seen this clue in The Guardian.
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