Singular old women to welcome student couplings (7)

I believe the answer is:

swivels

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'couplings' is the definition.
(I know this)

'singular old women to welcome student' is the wordplay.
'singular' becomes 's' (abbreviation sometimes used in dictionaries).
'old women' becomes 'wives' (wife is a kind of woman. I am not sure about the 'old' bit.).
'to welcome' is an insertion indicator (inserted letters are welcomed in).
'student' becomes 'l' (as in L-plates for learner drivers).
'wives' placed around 'l' is 'wivels'.
's'+'wivels'='SWIVELS'

Can you help me to learn more?

(Other definitions for swivels that I've seen before include "couplings" , "Turns on pivot" .)

I've seen this clue in The Telegraph.

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