Um, so what exactly is supposed to happen when a sim graduates university?

Blehhhh, that stinks. I'm guessing it's because the graduation ceremony process glitches out. There was a huge cluster beep of sims standing outside of the building trying to get in, so I'm assuming that's a major reason why. :(

Thanks for confirming my fears! At least I won't be sitting around wondering now, and hopefully everything will go fine the next time I send a sim to university.