Sumptuous work loaned by university (7)
I believe the answer is:
opulent
'sumptuous' is the definition.
('opulent' can be a synonym of 'sumptuous')
'work loaned by university' is the wordplay.
'work' becomes 'op' (abbreviation for opus).
'loaned' becomes 'lent' ('lend' can be a synonym of 'loan').
'by' says to put letters next to each other.
'university' becomes 'u'.
'lent' after 'u' is 'ulent'.
'op'+'ulent'='OPULENT'
(Other definitions for opulent that I've seen before include "Let up on, being wealthy" , "Rolling" , "Wealthy, possessing riches" , "indicating wealth" , "Wealthy or luxuriant" .)