Graduation is a rite of passage, marking the transition from childhood to unemployment. Tradition mandates that you give your favorite grad a cool new gadget to celebrate the occasion. Whether you're shopping for a high school or college soon-to-be-alum, we've rounded up five Editors' Choice graduation gifts that are sure to make them forget all about their soul-crushing student debt. Apple iPad Air 128GB WiFi + 4G Tablet for T-Mobile Store: B&H Photo-Video Price: $499 with free shipping Lowest By: $230 Is It Worth It?: This 4G-capable iPad Air is no small gift at $499, but think of the many priceless FaceTime chats you'll share with your grad! Better yet, the hefty 128GB storage will give them plenty of room for textbooks or resume drafts. This tablet has dropped $30 since our last mention, and it's currently $230 off. The iPad Air features a 9.7" 2048x1536 Retina display, an Apple A7 1.3GHz processor with an M7 motion coprocessor, 128GB of internal storage, a 1.2-megapixel FaceTime HD front camera, a 5-megapixel iSight rear camera, 1080p video capture, 802.11a/n wireless with MIMO, 4G access, and Bluetooth 4.0. Samsung 40" 1080p LED LCD HD Television with a $125 Dell eGift Card Store: Dell Home Price: $347.99 with free shipping Lowest By: $125 Expires: May 18 Is It Worth It?: No dorm room (or affordably priced apartment) is complete without a decent TV, so this 40" Samsung set is a practical and thoughtful gift. Assuming you (or your grad) will use the bundled gift card, it's a current price low by $125. This HDTV features a 1920x1080 (1080p) native resolution, USB, and two HDMI inputs. Note: The gift card will be emailed to you 10 to 20 days after purchase. Klipsch Quintet 5-Channel Home Theater Speaker System Store: Newegg Price: $179.99 with free shipping Lowest By: $54 Expires: May 14 Is It Worth It?: This Klipsch Quintet speaker system lacks a subwoofer, but that makes your grad less likely to anger his or her neighbors. The set does include four satellite speakers and a center-channel speaker, which handle 50 watts and 75 watts of power RMS, respectively. Best of all, you'll save $54 on this particular gift! Nokia Lumia 530 Windows Phone for T-Mobile Store: Walmart Price: $31.81 with in-store pickup Lowest By: $17 Is It Worth It?: Admittedly, this gift would mean very little to the grad who's had their own iPhone since preschool. But if you've kept things simple, this Nokia Lumia 530 prepaid smartphone could be a very practical (and welcome!) graduation gift. At $32, this Windows Phone is $8 below our previous mention and a current low by $17. The Lumia 530 sports a Qualcomm Snapdragon 20 1.2GHz quad-core processor, a 4" 854x480 LCD, 512MB of RAM, 4GB of internal memory, a 5-megapixel camera, a microSD slot, 3G capability, WiFi, Bluetooth 4.0, and Windows Phone 8.1. Bull Men's Robust Watch Store: Yugster Price: $54.97 via coupon code "FreeYugBuck" with $5 s&h Lowest By: $590 Is It Worth It?: When it comes to graduation presents, you can't get more traditional than a watch. With its titanium case and band, the Bull Robust Watch makes a handsome, durable gift. Plus, the coupon above knocks it down to $55, saving you $590. Available in four colors, this timepiece also features Swiss quartz movement, luminous hands, a rotating bezel, and water resistance to 330 feet. Note: The countdown timer on the product page does not reflect an actual expiration time and resets daily.