The upward pointing chevron suggests a tower, maybe an open book,a roof, as well as the more obvious arrow suggesting the upward progress of the graduate.
It’s both a strength and a weakness of such a simple shape that the associations come thick and fast but lack some specificity.
Solid uppercase serif is more in line with the traditional expectations of a university, whilst the cheltenham and gloucester text seems a bit of an afterthought. Looking like Gill Sans, it’s at least discrete and is colour matched with the chevron.
Ultimately, despite the modern element it ends up being quite a conservative logo by virtue of it’s minimalism.