The rapper received her Bachelor's Degree Saturday during a graduation ceremony at Texas Southern University -- where she's been studying health administration for a while now ... which all paid off in a climactic walk across the stage, in a traditional cap and gown.

Check out the clip ... MTS definitely made it a moment to remember, posing for selfies and waving at the crowd as her name was read (Megan Pete for official purposes). It was quite surreal, in a good way.

Gotta say, we're impressed. This ain't an honorary degree or anything (something celebs are adorned with all the time). Meg actually buckled down and hit the books -- and has been for years now -- enrolling in the HBCU and working her butt off to achieve undergraduate status.

Word is ... Megan was studying at Prairie View A&M way back in 2013, and transferred to TSU shortly thereafter -- but as her rap career has taken off, she's had to do online classes on and off while navigating her professional life.

It's a lesson for the kids out there -- even as an incredibly famous star, you can still achieve your dreams, especially if it's in higher education -- something Meg has said she's wanted under her belt, with her late mother in mind. Her mom passed a couple years back.

She wrote, "I want y'all to remember that you can do whatever you wanna do and be whoever you wanna be, cause look at me!"