Turn of the Century Graduation

Uploaded for the Vintage Photos Theme Park theme of: COLLEGE MEMORIES (Your own or someone else's.)
My own college graduation doesn't make the cut-off for 1980 - and I've already posted them, anyway!
This is a large of cardboard photo (cropped to show detail), and most likely a high school graduation rather than college, but it will have to do!
Given to me by a library patron who is a builder and was given to him by owners of a barn renovation he worked on.
Probably taken in Vermont.
Interesting to see the African American woman - wish we know more about these exceptionally good looking graduates!
I'm guessing this is the first decade of the 1900s, on the early side - looking at the dresses and hairstyles.