Cryptic food and drink

Oh, well my immediate thought was 'halibut' - and I keep coming back to it - but I can't square it with the clue at all
 
Oh, well my immediate thought was 'halibut' - and I keep coming back to it - but I can't square it with the clue at all

No, its not halibut. Halibut is quite delicious though. If it helps in any way, 'halibut' contains 4 letters which are in the answer. Read the clue above.
 
Explanation in case anyone is puzzled:

A boater is a type of hat. 'L' is for learner. In cryptic crosswords 'L' can be an abbreviation for 'scholar' or 'student'.
 
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