When a student in post-secondary education performs so horribly in their first term courses that any mark in their second term courses will result in a failed final average, and that there is no possible way for the student to take make up courses in in the second term (either because the post-secondary establishment does not offer the necessary courses in the second term, or the second term courses require the student to pass the first term courses to continue).
The student will have to "graduate" at Christmas and try the program again the next year.
Student 1: I haven't seen Jimmy in a while. What Happened to him?
Student 2: He bombed all of his courses and now he's a Christmas Grad.