I thought that as well, but you can't claim both! I applied last year before finishing my degree, so I claimed the 1 point for being first-generation. Now that I've graduated, I'm claiming the 5 points for the degree. Since the system won't let you use both, it replaces the 1 point with the 5, resulting in a net total increase of only 4 points. It's not a big deal, but it's just silly that the application system doesn't consider me a first-gen student anymore!