Answer: diplomas

AnswerCrossword Clue
DIPLOMASCertificates.
DIPLOMASCommencement Day features.
DIPLOMASSheepskins.
DIPLOMASPsychiatrists' hang-ups?
DIPLOMASReally expensive pieces of paper, perhaps
diplomasdocument conferring a degree or certifying the successful completion of a course of study