Fujifilm FinePix S1
A big bridge camera with a crazy-long zoom len, the FinePix S1 is a good choice for anyone who wants the look and feel of a dSLR, but not the expense or weight. It's the only one that has a dust- and weather-resistant body, perfect for whatever post-grad adventures are to come.
Samsung Galaxy Camera 2
The Android-powered Galaxy Camera 2 is a great way to shoot and share and it can do double duty as a media player, so it's like getting two gifts in one.
Drift Ghost S
GoPro might have the name recognition, but the Ghost S is just as capable and instead of having to pay for additional accessories and features, this waterproof action cam is ready to go out of the box.
Monoprice MHD Sport Wifi
A good bang-for-your-buck action cam. You can record all your daring feats, but you won't go broke doing it.
Olympus Stylus XZ-2
A great choice for those who want the control of a dSLR, but not the size. The pricing jumps around for this model, though, so only consider it if you can get it for less than its $600 full price.
Sony Cyber-shot DSC-RX100 II
A great overall compact camera that is a lovely reward for the years of hard work just completed by your favorite photography enthusiast.
Nikon D5200
If you don't want to break the bank on your graduate's gift but want a camera for someone who does more than dabble, this is a nice choice.