What does the cryptic crossword clue "Pay to take residence at university? (6,2)" mean?

The definition is "Pay". The wordplay uses a charade (building blocks). SETTLE (synonym="take residence") + UP (synonym="at university, particularly Oxford or Cambridge") = SETTLEUP; definition: "Pay" The answer is SETTLEUP.

Pay to take residence at university? (6,2)

Guardian Cryptic #27311 | 7 Down | 2017-09-25 flower

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