Commencement
Commencement is a funny word for graduation, because it means "beginning", when the thing is actually the end of college.
Perhaps they meant the commencement of alcoholism.
Commencement Speakers
2008: Jesus Fucking Christ
2007: Bill Clinton
2006: Stephen Colbert
2005: Barack Obama
2004: Dr. Brilliant, and yes, that is his real name.
2003: Admiral William Crowe - amid much controversy, as he served as Chairman of the Joint Chiefs of Staff under Presidents Ronald Reagan and George H.W. Bush. There was actually a protest against his speaking at graduation.