The Collaborative International Dictionary of English v.0.48:

Graduate \Grad"u*ate\, v. i.
   1. To pass by degrees; to change gradually; to shade off; as,
      sandstone which graduates into gneiss; carnelian sometimes
      graduates into quartz.
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   2. (Zool.) To taper, as the tail of certain birds.
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   3. To take a degree in a college or university; to become a
      graduate; to receive a diploma.
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            He graduated at Oxford.               --Latham.
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            He was brought to their bar and asked where he had
            graduated.                            --Macaulay.
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The Collaborative International Dictionary of English v.0.48:

Graduate \Grad"u*ate\, v. t. [imp. & p. p. Graduatedp. pr. &
   vb. n. Graduating.] [Cf. F. graduer. See Graduate, n.,
   Grade.]
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   1. To mark with degrees; to divide into regular steps,
      grades, or intervals, as the scale of a thermometer, a
      scheme of punishment or rewards, etc.
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   2. To admit or elevate to a certain grade or degree; esp., in
      a college or university, to admit, at the close of the
      course, to an honorable standing defined by a diploma; as,
      he was graduated at Yale College.
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   3. To prepare gradually; to arrange, temper, or modify by
      degrees or to a certain degree; to determine the degrees
      of; as, to graduate the heat of an oven.
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            Dyers advance and graduate their colors with salts.
                                                  --Browne.
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   4. (Chem.) To bring to a certain degree of consistency, by
      evaporation, as a fluid.
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   Graduating engine, a dividing engine. See Dividing
      engine, under Dividing.
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The Collaborative International Dictionary of English v.0.48:

Graduate \Grad"u*ate\, n. [LL. graduatus, p. p. of graduare to
   admit to a degree, fr. L. gradus grade. See Grade, n.]
   1. One who has received an academical or professional degree;
      one who has completed the prescribed course of study in
      any school or institution of learning.
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   2. A graduated cup, tube, flask, or cylinder; a glass
      measuring container used by apothecaries and chemists. See
      under Graduated.
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The Collaborative International Dictionary of English v.0.48:

Graduate \Grad"u*ate\, a. [See Graduate, n. & v.]
   Arranged by successive steps or degrees; graduated.
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         Beginning with the genus, passing through all the
         graduate
         and subordinate stages.                  --Tatham.
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WordNet (r) 3.0 (2006):

graduate
    adj 1: of or relating to studies beyond a bachelor's degree;
           "graduate courses" [syn: graduate(a), postgraduate]
    n 1: a person who has received a degree from a school (high
         school or college or university) [syn: alumnus, alumna,
         alum, graduate, grad]
    2: a measuring instrument for measuring fluid volume; a glass
       container (cup or cylinder or flask) whose sides are marked
       with or divided into amounts
    v 1: receive an academic degree upon completion of one's
         studies; "She graduated in 1990"
    2: confer an academic degree upon; "This school graduates 2,000
       students each year"
    3: make fine adjustments or divide into marked intervals for
       optimal measuring; "calibrate an instrument"; "graduate a
       cylinder" [syn: calibrate, graduate, fine-tune]