Bachelor's degree
A bachelor's degree (from Middle Latin "baccalaureus") or baccalaureate (from Modern Latin "baccalaureatus") is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to seven years (depending on institution and academic discipline). In some institutions and educational systems, some bachelor's degrees can only be taken as graduate or postgraduate degrees after a first degree has been completed. In countries with qualifications frameworks, bachelor's degrees are normally one of the major levels in the framework (sometimes two levels where non-honours and honours bachelor's degrees are considered separately), although some qualifications titled bachelor's degrees may be at other levels (e.g. MBBS) and some qualifications with non-bachelor's titles may be classified as bachelor's degrees (e.g. the Scottish MA and Canadian MD).
Licentiate (degree)
The third cycle was sometimes called postgrado. Note, however, that the label "undergraduate" may be misleading to an anglophone audience, since while a Spanish "Diplomatura" may be likened to an undergraduate Bachelor's degree, a Spanish "Licenciatura" is comparable in scope to a postgraduate Master's degree, as the anglophone distinction between "undergraduate" and "postgraduate" degrees does not properly apply to the traditional higher-education system of Spain. Many Spanish "licenciados", when translating their CVs into English, use the formula BA+MA (or BSc+MSc) to indicate that a "Licenciatura" is equivalent to a master's degree. Depending on the degree and study plan, some Spanish universities require a small thesis or research project to be submitted in the last year before the student can finally claim his or her degree.