I like what you've done with the type and colour however I'm not keen on the graphic device of the mortarboard hat as it's too literal in my opinion and in a sense the opposite of what Education Design Labs is about giving that we're redesigning education rather maintaining current approaches that would result in a mortarboard hat at a typical college graduation.
Also I'm not entirely sure that I want to shorten to EDLABS and would be keen to see your thinking around "Education Design Labs" - I realise that it's long but it might work with your approach to type.