Original sentence: The term, originally coined to describe a group of universities with a large research income, is now also used as a short-hand for the members' perceived prestige and reputation
Edited sentence: The term, originally coined to describe a group of universities with a large research income, is now also used as a short-hand for the members' perceived prestige and reputation,.and has connotations of academic excellence, selectivity in admissions, and social elitism in terms of British and Global higher education