What does it mean when a university congratulates itself for a high graduation rate?
One hopes it means the university has lots of hard-working students and excellent faculty whose classroom collaborations produce happy results.
Unfortunately, it could also mean that a lot of "dumbing down" of course materials, a lot of grade inflation, and a lot of failure to challenge complacent mediocrity are taking place.
One suspects that in a great many institutions, both of the above are present. A high graduation rate, by itself, does not necessarily indicate educational excellence. Further, there are some students who should not graduate, due to factors including academic irresponsibility, academic unpreparedness, or the emergence of other priorities in their lives.