What is the Islamic ruling on graduation ceremonies be it Islamic studies or academic? What should the graduating Muslim do upon this occasion?

Question

No doubt when a student completes his education, this is an occasion of joy for the student, his family, and those who love him, because that represents the end of this stage of hard work. But for a Muslim with high level of faith, this joy make him realize how blessed he is, so he will give thanks to Allah Ta’ala the One Who bestowed that blessing and he will realize that all grace and bounty is in His hand, and that He is the one who enabled him and helped him to achieve that, and were it not for Him, neither he nor his effort would exist.