The last 1/3 of issue #185 deals with Peter's Graduation from ESU. Aunt May is recovering in the hospital from her latest heart attack and is visited by Joe Robertson, who wheels in a television set. Robbie's son has borrowed some Daily Bugle video equipment so that May can witness Peter's graduation ceremony. As Peter arrives at the ESU campus, he is greeted by Harry, Flash and Betty Leeds who are there to witness the event.
When Peter goes to pick up his cap and gown, he is not on the graduation list, but is given a spare cap and gown to keep the line moving. There is no seat reserved for him with the graduating class, but he finds an empty seat of a guy who is sick and takes it. Jonah Jameson is the guest speaker and he gives his typically long winded speech that lasts hours. When the graduates are called one by one to accept their diplomas, Peter's name is skipped and he can't believe it.
It turns out that he missed graduating by 1 credit because he did not take a mandatory gym class. Peter curses himself for being too busy as Spider-man, but decides that he can make up the class over the summer and get his diploma in September. In the end, Peter is happy to be done with college and eager to take on the challenges of the "real" world.