Soaks took a stool, perhaps getting university prices (9)

I believe the answer is:

saturates

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'soaks' is the definition.
('saturate' can be a synonym of 'soak')

'took a stool perhaps getting university prices' is the wordplay.
'took a stool perhaps' becomes 'sat' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'getting' says to put letters next to each other.
'university' becomes 'U' (abbreviation for university).
'prices' becomes 'rates' (I've seen this before).
'sat'+'u'+'rates'='SATURATES'

Can you help me to learn more?

(Other definitions for saturates that I've seen before include "floods" , "Soaks" .)

I've seen this clue in The Everyman puzzle in The Observer.

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