No tassel in the spring, but after summer I'm alumni

from Chance The Rapper – 14,400 Minutes Lyrics on Rap Genius

Meaning

Because of Chance’s suspension, he couldn’t graduate with his classmates in the spring so he had to go to summer school and graduate so he could officially be an alumni to Jones College Prep.

Fun Fact: Chano mentions in another annotation that he threw away his gown and everything.

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