French translation: cérémonie de remise des diplômes
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Explanation: Il ne faut pas employer graduation pour désigner la collation des grades. On dit cérémonie de remise des diplômes, cérémonie de fin d'études ou même, selon le cas, bal ou fête de fin d'études.
College should be replaced by the name of the school because this word does not work in France and many types of degrees/professional diplomas are available.