Leave university with debt halved — blessed state (9)
I believe the answer is:
beatitude
'blessed state' is the definition.
'leave university with debt halved' is the wordplay.
'leave' becomes 'beatit' (I've seen this before**).
'university' becomes 'u'.
'with' is a charade indicator (letters next to each other).
'halved' suggests halving the letters.
'debt' cut in half is 'de'.
'beatit'+'u'+'de'='BEATITUDE'
(Other definitions for beatitude that I've seen before include "great happiness" , "happy state" , "Blessedness" , "Bliss; 'Blessed are...' verse" , "A tube tied up for heavenly happiness" .)