noun pl. universities -·ties

1. an educational institution of the highest level, typically, in the U.S., with one or more undergraduate colleges, together with a program of graduate studies and a number of professional schools, and authorized to confer various degrees, as the bachelor's, master's, and doctor's
2. the grounds, buildings, etc. of a university
3. the students, faculty, and administrators of a university collectively

Etymology: ME universite < MFr université < ML universitas < L, the whole, universe, society, guild < universus: see universe