Page has a B.S. degree in Engineering from the Unversity of Michigan. Here's a profile of Larry from 2001 that was published in a U of M College of Engineering magazine. You'll read about his favorite college memory.
The Michigan Daily article quotes a student (a devoted Google user) who is thrilled with having a "Google Guy" as his commencement speaker.
I use Google daily for everything, Engineering senior Andrew Chandler said. Im also an outspoken proponent of it, and I get angry when people dont have it as their homepage...Im quite excited that hes coming, he said. I called my dad today and said, This is awesome, Larry Page is coming.
Btw, the other Google Guy, Sergey Brin, was the commencement speaker at the Unversity of Maryland (he's a grad and his dad is a faculty member) in December 2003.