I would not be surprised if this question initiated an interesting discussion. I think that graduation is an important component of education. It is representative of the completion point in a course of study. It represents accomplishment and should be honored. Yet, I don't think that it is equivalent or synonymous with a complete education. Learning and education does not stop with graduation. One graduates. Yet, they continually learn. For example, there is life after graduation. Life will continue in some form, and education continues with it. This education may be personal understanding or revelation. Another form of education that continues after graduation would be professional training. Professional training continues after graduation. Both modes of education go beyond graduation.
Due to this, one would have to presume that learning and knowledge acquisition surpasses graduation. Certainly, graduation is an important part of the education process. We honor it as the culmination of formal educational work. It is a distinction worthy of praise. Yet, it should not be seen as strictly synonymous with education or seen as something that is the only component that embodies education. In many different forms, education continues after graduation.