Final answer:
The type of observational study described is a prospective cohort study where a group of former graduates is followed over time to observe their career success stories.
Step-by-step explanation:
The type of observational study described in the question is a prospective cohort study. In this study, a group of former graduates is selected and followed over time to observe their career success stories. The researchers will collect data periodically, typically every 8 years, to track the progress and outcomes of the graduates' careers.