The phrase "gives sheepskin," typically refers to the act of awarding a diploma or degree to a student. However, there are several synonyms that have a similar meaning to this phrase. Some of these include "confers a degree," "grants a diploma," "bestows certification," "awards accreditation," and "endows qualifications." These phrases all signify the act of recognizing and acknowledging a person's academic achievements and presenting them with a formal document that attests to their knowledge and skills in a particular field of study. Whether it's "giving sheepskin" or any of these other synonymous phrases, they all signify a significant accomplishment worth celebrating.