Told untruths about US university being inadequate (7)
I believe the answer is:
limited
'inadequate' is the definition.
(limited can mean inadequate or deficient)
'told untruths about us university' is the wordplay.
'told untruths' becomes 'lied' (told lies).
'about' is an insertion indicator.
'us university' becomes 'MIT' (Massachusetts Institute of Technology).
'lied' enclosing 'mit' is 'LIMITED'.
'being' acts as a link.
(Other definitions for limited that I've seen before include "Checked" , "short of talent" , "Restricted, finite" , "plc" , "Bounded, circumscribed" .)