Well-known college rejected daughter (5)
I believe the answer is:
noted
'well-known' is the definition.
(thesaurus)
'college rejected daughter' is the wordplay.
'college' becomes 'eton' (I've seen this before).
'rejected' shows that the letters should be reversed in order.
'daughter' becomes 'd'.
'eton' backwards is 'note'.
'note'+'d'='NOTED'
(Other definitions for noted that I've seen before include "Scored" , "Like music" , "Indicated" , "Famous or eminent" , "Observed - famous" .)