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1.
One who chooses to add to the breadth of their education by embarking upon a program that may award him/her a master's degree, a Ph.D, or no degree at all. While this decision may, under very particular circumstances, lead to a position as a tenured professor in a university, it will most likely lead to a decade or more of delaying the individual's entry to what most people would call the "real" world. Becoming a graduate student allows one to enter the self-perpetuating institution of academia.
Ex. 1
Typical sign in a physical sciences laboratory: "Do not feed graduate students and other lab animals."

Ex. 2
Grad student: "I'm writing a thesis on the remnants of Victorian culture in modern stereotypes of Transylvania."

Friend: "What are you going to use that for?"

Grad student: "I hope to become an English professor because if I'm lucky, I may one day out-earn high school teachers."
by academicbubble January 07, 2012
 
2.
A young adult whose number one motivating factor is free food.
Marissa, a graduate student, just attended a pointless workshop on conflict resolution just because there was free pizza there.
by Carla Cat October 26, 2013