Student getting in to poor folk's banter (10)
I believe the answer is:
pleasantry
'banter' is the definition.
(thesaurus)
'student getting in to poor folk's' is the wordplay.
'student' becomes 'l' (as in L-plates for learner drivers).
'getting in' indicates putting letters inside.
'to poor folk' becomes 'peasantry' (I've seen this before).
'l' placed inside 'peasantry' is 'PLEASANTRY'.
(Other definitions for pleasantry that I've seen before include "Source of laughter" , "jocularity" , "Jocular comment" , "Polite remark" , "Humorous style" .)