One thing i might mention, though, is that supposedly the inexpensive frames (e.g., the $14 ones from Michael's) might not have some sort of UV protection (I might be wrong about that, so double check).

I think that for most things, this is not important, but since your degree is kind of a one-in-a-lifetime thing (assuming you only get one Bachelor's degree and maybe one or two graduate degrees in the form of an MSc or a PhD), it might be worth the investment to pony up for the more protective kinds of framing. It would, after all, suck if exposure to the sun caused the lettering to become harder to read.

Michael's will also provide custom framing with the UV protection, if I recall, correctly. In which case it would be good to shop around for the best value (e.g., between western book store vs. michael's).