Graduation dreams are also increasingly common and are meant to signify different things. They reflect your desire to move on in life and pursue new goals and aspirations.
They reflect the desire to start a new chapter in your life, irrespective of whatever is happening in your waking life.
Alternatively, they might even reflect your need to compete with others and always be involved in some sort of competition. They might indicate your need to do better than other people in your life.