Many carriages and caravans were waiting in front of the academic city's fort. At this time of the year, it would take a few hours just to enter the city.
The academy had started admitting students into it so this was normal. Just graduating from the academy can give you many benefits. It is even possible to get granted a noble peerage.
There hasn't been a case where a person has been promoted to the duke or Viscount but there were still many cases where a person was bestowed a count's peerage.
They just don't give them titles. Land and authority worthy of the noble peerage given to them is bestowed to them. It is even possible to recruit other graduates from the academy to take care of the land and military matters.
The academy would support them for the first five years of their ruling by providing them with adequate money but, after that it is entirely up to the person's capability to maintain his title.