University dons shape discussion (5)
I believe the answer is:
forum
'discussion' is the definition.
(thesaurus)
'university dons shape' is the wordplay.
'university' becomes 'U' (abbreviation for university).
'dons' is an insertion indicator (don means to wear or put on).
'shape' becomes 'form' (synonyms).
'u' inserted within 'form' is 'FORUM'.
(Other definitions for forum that I've seen before include "Roman meeting place" , "A meeting to exchange views" , "place for debate" , "old square" , "historically square" .)