How would you define graduation?

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I've been hearing different definition with regards to graduation. Some would say its the end of their agony... Some would say, it's the beginning of new career... Some likewise would say, its the end of their thrilling moment... For me, graduation is aan achievement...It is where I could eveluate myself whether or not I was able to perform what is expected of me...It is indeed a beginning of my chosen field... How about you? What are your perceptions with regards to graduation?