James Franco graduates from NYU

Franco has already gained a degree in creative writing from Columbia University, as well as studying poetry at Warren Wilson College in North Carolina and fiction writing at Brooklyn College.

Most recently, the 33-year-old actor was accepted onto the University of Houston's doctoral programme in literature and creative writing, while he also works towards a PhD in English from the prestigious Yale University.

TRAILER: James Franco in Your Highness

Meanwhile, Franco has announced plans to study at the Rhode Island School of Art and Design and will be teaching film classes - advising students on how to modify poetry into short movies - at New York University later in the year.

However, he isn't the only star to receive a degree this week.

On Monday, Oscar-winning actor Denzel Washington accepted an honorary degree from the University of Pennsylvania in front of 5 000 graduates.

Addressing the crowd, he said: "It's a little overwhelming and out of my comfort zone. I had to come exactly because I might make a fool of myself. I've found that nothing in life is worthwhile unless you take risks. Nothing."