Graduation is the action of receiving or conferring an academic degree or the associated ceremony. The date of event is often called degree day. In the United States and Canada, it is also used to refer to the advancement from a primary or secondary school level. Many colleges have different traditions associated with the graduation ceremony, the best-known probably being throwing mortarboards in the air.
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Graduation speech
A graduation or commencement speech, in the U.S., is a public speech given by a student or by alumnus of a university to a graduating class and their guests. Common themes of the graduation speech include wishing the graduates well in the "real world," cautioning that the world of academe is a special place where they were taught to think (a common variation contradicts this view). Most recently, especially in prestigious institutions, the trend has been to find a celebrity (often one with no apparent connection to the specific institution or education in general) or a politician to deliver speeches.
Source: Graduation - Wikipedia
