They actually should try that here.
Give kids something tangible to strive for instead of a fruity tassel to go with something they're embarrassed to wear.
Ok, playing on your idea what could we give graduates?
How about a gold plated lantern, a symbol of the light of knowledge in the darkness of ignorance?
Or how about something less symbolic and more useful? If you earn a significant degree in america, and i'm serious, maybe yiu get one guaranteed low interest government backed loan to do with as you please.
And yes you could use it to pay off your student debt at once and repay the loan at special low interest rates instead of the vigorish that the governments ng charges on scholarships.