Meeting class outside university (5)
I believe the answer is:
forum
'meeting' is the definition.
(I know that forum is a type of meeting)
'class outside university' is the wordplay.
'class' becomes 'form' (synonyms).
'outside' is an insertion indicator (some letters go outside others).
'university' becomes 'U' (abbreviation for university).
'form' placed around 'u' is 'FORUM'.
(Other definitions for forum that I've seen before include "A place for discussing" , "Public meeting or assembly for open discussion" , "Medium for discussion" , "Ground for discussion" , "Court - conference" .)