My vote would be a Browning X Bolt Medallion. I just feel a graduation gift should be quality, not some cheap plastic rifle.
That said, if you don't want to spend that the Savage Model 10 at Walmart with a cheap scope and the accu trigger is one hell of a rifle for $387 it costs. However, if I was getting someone a graduation present, I'd get them something with a nicer wood stock that the could cherish for the rest of their life. As much as I love the Savages, and they shoot just as good or better than any Browning I've seen, the stocks, and all aren't up to part with the Brownings.