graduation
grad.u.a.tion \.graj-*-'wa--sh*n\ n 1: a mark on an instrument or vessel indicating degrees or quantity; als o : these marks 2a: the award or acceptance of an academic degree or diploma 2b: COMMENCEMENT 3: arrangement in degrees or ranks
Webster's English Dictionarygrad.u.a.tion \.graj-*-'wa--sh*n\ n 1: a mark on an instrument or vessel indicating degrees or quantity; als o : these marks 2a: the award or acceptance of an academic degree or diploma 2b: COMMENCEMENT 3: arrangement in degrees or ranks