Ep 25. Celebration Day (a.k.a. Graduation)

As the title suggests, "Celebration Day" or "Graduation" marks the end of a chapter in the lives of our beloved characters from That 70's Show. In this season 5 finale, the gang is set to bid adieu to their high school years and move on to the next phase of their lives.

The episode starts with Eric, who is feeling down about the fact that he did not get into college. His best friend, Hyde, encourages him to take a road trip to California and figure out what he wants to do with his life. Meanwhile, Donna has been accepted into a college in Madison, Wisconsin, but is unsure about leaving home and her boyfriend, Eric.

On the day of graduation, the whole town is buzzing with excitement. Red and Kitty are proud of their son, Eric, but are disappointed that he did not get into college. Kelso, on the other hand, is ecstatic that he survived high school and has no plans for the future.

As each member of the gang walks up to receive their diploma, we see the trials and tribulations they have faced throughout the series. Jackie, who was once the popular cheerleader, has grown to be an independent woman, while Fez, once the foreign exchange student, has become a permanent resident of Point Place.

After the graduation ceremony, the gang heads to the Forman's house for a party. Hyde has a surprise for everyone - he has bought the local record store and has turned it into a retro hangout. The gang is thrilled with the news and spends the night dancing and reminiscing about the good old days.

Eric is still struggling with his future, but his friends assure him that he will find his way. Donna, who was once unsure about leaving, decides to go to college and pursue her dreams. Kelso, who had no plans for the future, decides to join the police academy.

The episode ends with the gang singing "Hanging out, down the street..." one last time, indicating the end of an era. As they all move on to the next chapter of their lives, they know that they will always have each other's backs.

In "Celebration Day," That 70's Show delivers a heartwarming and nostalgic finale to its fifth season, where the gang has grown and matured throughout their high school years. This episode excellently captures the mixed emotions surrounding graduation day – excitement, nostalgia, and fear of the unknown – and brings the audience along for the ride. It is a fitting end to a season that has seen its characters go through personal challenges and growth.