Police student about reported money owed (5)
I believe the answer is:
cadet
'police student' is the definition.
'cadet' can be an answer for 'student' (I have seen 'Military student ' mean 'cadet' so perhaps 'student' could also mean 'cadet'). I am not sure about the 'police' bit.
'about reported money owed' is the wordplay.
I cannot really see how this works, but
'about' could be 'ca' (abbreviation for 'circa') and 'ca' is present in the answer.
This may be the basis of clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for cadet that I've seen before include "Police force trainee" , "who needs to be properly trained?" , "One taking instructions" , "Military student" , "Officer in training" .)