Sinbad Debt School Graduate

7/21/2013 12:00 AM PDT

Sinbad -- Debt School Graduate

Sinbad just got a brand new degree from debt school ... and all it cost him was $11 MILLION ... TMZ has learned.

If you recall, the '90s comic -- who starred opposite Scott Bakula in "Necessary Roughness" ("Andre does not eat raw meat, 'cause Andre's a vegetarian!" God we loved that movie) -- is broke now and filed for bankruptcy back in April.

But in order to enjoy the full benefits of bankruptcy (the govt. wiping away debts) ... he was required to complete a course on personal financial management -- and guess what, HE PASSED!

It's great news for Sinbad, considering he owes $10,991,715 in debts ... and claims he's only got $131,000 in assets.

So congrats, Sinbad ... not just for graduating debt school, but for knocking Robert Loggia on his ass back in 1991!!!! (god, we loved that movie)