No it's not. Corn births the same year/next year for winter corn. That monster you're trying is more like planting some kind of magical plant that only blooms once a century. Because only if and when the Empire and the actual centers of learning in it burn to the ground along with all the books in them, will it matter if such a center exists here.
Frankly, the Undumgi dont have the numbers to need a University level school, and the dwarves already have the needed teaching systems for their kind. So unless you are building it for repopulating the Empire if Aldorf burns, I don't know what you expect to get from such a thing in any kind of mid-short term.
In the Long term, you'll get some nobility from the Border princes to send their children there, if they don't send them to the Empire, or Tilea. But it's not going to be some revolutionary thing. The dwarves are dwarves and will keep their secrets and traditions, so you have halflings and humans for actual users of the institution. And they just don't have the numbers for a university and a transcendental favor is wasted on a High School.
EDIT: Like really, why do people arguing for this thing we can get other dwarves to participate and share their secrets with Umgi and Halflings? Not to individuals, but to entire classes? Like, look at how much Dwarf Favor Mat has. That's the only reason Runelords will listen to her and work with her. Everyone else? They're Umgi. Mud.
