A diploma holder is someone who has earned a degree or certificate from an educational institution. A GRAD, or graduate, is a person who has completed their studies and received a diploma. An ALUM, or alumnus, is a former student of a school, college, or university. GRADS are graduates, and SHEEPSKIN is another term for a diploma. Magna cum laude is an academic honor given to students who have achieved high grades in their studies, and laudes is another term for this honor.