Cryptic crossword clue
Extremely disconsolate graduate, regularly called a failure

The most common and most likely answer to this crossword clue is the 7 letter word DÉBÂCLE

I've seen this crossword clue in Independent
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The straight part
We know that "failure" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case failure = dÉbÂcle.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does DÉBÂCLE mean?

DÉBÂCLE noun
  1. An event or enterprise that ends suddenly and disastrously, often with humiliating consequences.
  2. A breaking up of a natural dam, usually made of ice, by a river and the ensuing rush of water.

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