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1.
a student (usually university or college) who drops out at Christmastime when they go back home to visit their parents. Often caused by homesickness, academic failure, unpopularity, or a significant other living back at home.
Person 1: Man, did you hear that George isn't coming back after Christmas?
Person 2: Damn Christmas graduates.

________

Person 1: I need to move out of residence asap. Know of any places available?
Person 2: Wait until January when all the Christmas graduates sublet their apartments.
by allohamorah December 05, 2006
14 1
 
2.
University student that is kicked out of school halfway through the year due to poor academic performance.
"Where did Charlie go?"

"He got debarred. He's a Christmas Graduate."
by Eugene206 December 06, 2006
9 5