You are right, we haven't had studentexamen since 1968 in Sweden, but we kept the expression "ta studenten" (now simply meaning that one has graduated from gymnasium/secondary school) and the celebrations :)
So "tagit studenten" can only refer to graduating from gymnasium/secondary school. Replace "studenten" with "examen" if talking about college/university.
M.r Emil:i am neither English nor swedish but it seems a little in this translation, as...have graduated...reffers to present perfect i think it should be ...when will he be graduated or .........when he will have been graduted...if not i will be happy to get the direction
If you are a British English speaker then this translation is actively incorrect. You do not graduate from school, graduation happens from university or, just possibly, from some other post-secondary course. The correct British English translation is probably something like "When will he have finished school". or "When will he have finished secondary school".
This is true when you are talking about a person who is Sweden Swedish, but when you are talking about a Finland Swedish person (or a person from some other European country) the translation would probably have something to do with the A-levels, since it is the closest thing to a matriculation examination in the UK.