laud- +

1. With great distinction: used with reference to a university or college graduating degree, diploma, etc., of a higher standard than the average (though not the highest). Also in extended use, (designating) such a degree or diploma.
2. The summa cum laude is the highest distinction, standard, or designation of a degree, diploma, etc.; that is, higher than the magna cum laude.

With great praise or distinction.

Used especially on a diploma to designate a grade of work higher than cum laude, but lower than summa cum laude.

With the highest praise.

Normally a reference to graduates of schools or universities.

They are silent, they praise enough.

"Silence is praise enough" is a line from Terence's Eunuchus, and probably acknowledges that rapt attention in an audience can be more flattering than applause.