The externship experience can go  a long way toward quelling some of their fears... if your program doesn't have an externship experience, perhaps your career service folks could help the student shadow a person employed in their chosen profession/career during the student's last quarter.  That might ease the transition from the relatively safe enviornment of the school to the scary workplace...

I had a couple students in thier late 20's who graduated just this last quarter who were in awe and unaware of what success and completion of something in their lives actually felt like. The unit on the importance of vision really applies in this circumstance.

Graduate panic is very common, but can be eased witha serious heart to heart. When my students mention to me they are apprehensive about entering the feild, i remind them of how they were when they first started school, how nervous they were, and how they overcame that and made it through. i tell them that they are more than capable and they will do fine. i also offer my services as far and mentoring if they come across any problems, questions or complaints. that usually eases that fear.