Mishearing the day to receive new academic award (10)

I believe the answer is:

mondegreen

I'm a little stuck... Click here to teach me more about this clue!

'mishearing' is the definition.
I don't know anything about this answer so I cannot tell whether this works.

'day to receive new academic award' is the wordplay.
'day' becomes 'mon' (short for Monday).
'to receive' means one lot of letters goes inside another.
'new' becomes 'n' (common abbreviation eg NT for New Testament).
'academic award' becomes 'degree' (I've seen this before).
'n'+'degree'='ndegree'
'mon' going around 'ndegree' is 'MONDEGREEN'.

'the' acts as a link.

Can you help me to learn more?

(Other definitions for mondegreen that I've seen before include "Misheard words" , "Misheard lyrics" .)

I've seen this clue in The Guardian.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.