Admit you need money to go to college (3,2)
I believe the answer is:
let on
'admit' is the definition.
(thesaurus)
'money to go to college' is the wordplay.
'money' becomes 'l' (L can mean 'pounds').
'to go to' says to put letters next to each other.
'college' becomes 'eton' (I've seen this before).
'l'+'eton'='LET ON'
'you need' is the link.
(Other definitions for let on that I've seen before include "Reveal, divulge" , "Tell me" , "Disclose awareness" , "Spill the beans" , "Divulge information" .)