Failing that course regularly before university (2,4)
I believe the answer is:
or else
'failing' is the definition.
The definition and answer are not the same part of speech.
'course regularly before university' is the wordplay.
'regularly' means one should take alternating letters (regularly take one letter, leave next etc.).
'before' is a charade indicator (letters next to each other).
'university' becomes 'lse' (London School of Economics).
The alternate letters of 'course' are 'ore'.
'ore'+'lse'='OR ELSE'
'that' is the link.
Can you help me to learn more?
(Other definitions for or else that I've seen before include "If not, then - sounds like a threat" , "Instead of" , "Otherwise - that's a threat" , "Alternatively" , "Vague threat" .)