The most common and most likely answer to this crossword clue is the 8 letter word FRESHMAN
I've seen this crossword clue in The Daily Telegraph
F
R
E
S
H
M
A
N
More clues leading to the result FRESHMAN
Buddy explains!

The straight part
We know that "First-year student" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case first-year student = freshman.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 FRESHMAN mean?
FRESHMAN noun- A novice; one in the rudiments of knowledge.
- A person of either sex entering the first year of an institution, especially a high school (ninth grade), a university, or legislative body.