You should send your college graduation announcements to close family and friends first; any special teachers or instructors from your pasts that really made an impression on your life.
Unless it's an invitation to commencement, a graduation announcement may be sent to any family members or friends you wish, either before or up to two weeks after graduation.
College graduation announcements should be sent to grandparents; aunts, uncles, and cousins with whom you share a familiar relationship and close friends.
Send them to your family and any close family friends. Don't send them to people you don't speak to a lot or are just aquaintances. They are far to expensive to just pass out.