Magna Cum Laude
What it is:
Magna cum laude is Latin for with great honor.
How it works/Example:
Let's say John Doe is about to graduate college. He has a very high grade point average and has earned several awards from the finance department in which he is studying. Because he is graduating in the top 5% of his class, John Doe's university bestows the magna cum laude honor on him at graduation.
It is important to that every college sets its own standards regarding who receives the designation.
Why it matters:
Graduating magna cum laude is often a prestigious reward for hard work in undergraduate or graduate work. The designation is less prestigious than summa cum laude (with highest honor), but is more prestigious than cum laude (with honor).