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Douglas Harper's Etymology Dictionary
magna cum laude

1900, Latin, literally "with great praise;" from magna (see magnate) + cum laude.

Wiktionary
magna cum laude

adv. "With great praise"; an honor added to a diploma or degree for work considered to be of much higher quality than average.

WordNet
magna cum laude
  1. adj. with high honor; with high academic distinction; "a magna cum laude graduate"

  2. adv. with high honor; "he graduated magna cum laude"

Usage examples of "magna cum laude".

Even when he was about to graduate magna cum laude, some of his classmates, usually the cheerleaders, thought he was a townie.

Schumer then voted against Bush nominee Miguel Estrada - who had graduated from Harvard Law School magna cum laude, where he had been an editor of the law review.

Gates graduated magna cum laude, Stowe summa cum laude, same graduating class.

At least ten Specialized degrees, and magna cum laude in every one.

So I am pleased to tell you, and wanted to do so personally, that you are graduating as a Bachelor of Nuclear Science and Engineering next week, Magna Cum Laude.

After a magna cum laude at Duke University, Marshall had written a book on the history of the Bill of Rights that was now considered to be the standard text for every undergraduate studying American history.