noun, plural universities.
an institution of learning of the highest level, having a college of liberal arts and a program of graduate studies together with several professional schools, as of theology, law, medicine, and engineering, and authorized to confer both undergraduate and graduate degrees. Continental European universities usually have only graduate or professional schools.

1250–1300; Middle English universite < Old French < Medieval Latin ūniversitās, Late Latin: guild, corporation, Latin: totality, equivalent to ūnivers(us) (see universe) + -itās -ity

universitarian [yoo-nuh-vur-si-tair-ee-uhn] , noun, adjective
antiuniversity, adjective, noun
counteruniversity, noun, plural counteruniversities.
interuniversity, adjective
nonuniversity, noun, plural nonuniversities, adjective
preuniversity, adjective
prouniversity, adjective Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
university (ˌjuːnɪˈvɜːsɪtɪ)
n , pl -ties
1.  an institution of higher education having authority to award bachelors' and higher degrees, usually having research facilities
2.  the buildings, members, staff, or campus of a university
[C14: from Old French universite, from Medieval Latin universitās group of scholars, from Late Latin: guild, society, body of men, from Latin: whole, totality, universe]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

c.1300, "institution of higher learning," also "body of persons constituting a university," from Anglo-Fr. université, O.Fr. universitei (13c.), from M.L. universitatem (nom. universitas), in L.L. "corporation, society," from L., "the whole, aggregate," from universus "whole, entire" (see
universe). In the academic sense, a shortening of universitas magistrorum et scholarium "community of masters and scholars;" superseded studium as the word for this.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
The university acquiesced and opened the first co-educational, graduate level
  medical school.
However, critics then and now argue that any university that receives taxpayer
  funds should be open to scrutiny.
Nowadays even moderately well-off students often take a break between school
  and university to go round the world.
University tightens oversight of sensitive research.
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