Typically, the abbreviation is for those who have either a master's or doctorate degree, and used when work related.
When you earn a degree
The best for a high school graduate is to go to college. A college graduate should apply to companies that are interested in their degree.
Cochise College offers associate's degrees, but they do not offer graduate programs.
A college degree
Generally speaking, a jobless graduate refers to a college graduate. It can be any degree, such as a Mater's degree of a Ph.d. The question identifies the situation where a college educated person can find no job.
You graduate from a college
Tori Spelling doesn't have a college degree.
John F. Kennedy had a college degree from Harvard College. He also had a graduate business degree from Stanford Graduate School of Business.
He earned a bachelor's degree from Bowdoin College in 1824.
The acronym AICTE could stand for All Indian Council for Technical Education. This is an organization that approves an engineering college. Therefore, if you get an engineering degree from a college who is not approved as an AICTE college your degree would not be valid in India.
An undergraduate has not yet graduated from college, in other words, does not yet have a degree, while a graduate has graduated and has a degree. A graduate who seeks more advanced degrees can then be called a post graduate student.
If you have taken the program as an associate or bachelor's degree from a college or university, it is an undergraduate degree. The master's and doctorate are graduate degrees.