Degree of depression left old bloke terminally lost (7)
I believe the answer is:
diploma
'degree' is the definition.
(I know that Diploma is a type of degree)
'depression left old bloke terminally lost' is the wordplay.
I cannot quite understand how this works, but
'depression' could be 'dip' (dip is a kind of depression) and 'dip' is found in the answer.
'left' could be 'l' (common abbreviation) and 'l' is found within the answer.
'old' could be 'o' (common abbreviation eg in OE for Old English) and 'o' is located in the answer.
The remaining letters 'ma' is a valid word which might be clued in a way I don't see.
This may be the basis of the clue (or it may be nonsense).
'of' acts as a link.
Can you help me to learn more?
(Other definitions for diploma that I've seen before include "Document conferring honour" , "Certificate of education" , "Certificate of competency" , "Paper showing examination success" , "Document conferring a qualification" .)