The law on the two-level system of higher education has now gone into effect in Russia: the bachelor's degree will correspond to the first level of higher education, while the master's degree will correspond to the second level. These levels entail separate state educational standards and separate final certification. In the process of adopting the multilevel system of higher education, which is new to Russia, it is important to understand just what it represents and how it is constructed in the countries where it is traditional. As Russians are not familiar with the new names of college and university graduates, this article looks at the origins of these names as currently used. The author believes that moving higher education in Russia closer to the European and American models will provide benefits for Russian students, but this Westernizing influence is seen by some observers as weakening the effectiveness and usefulness of a more traditional Russian higher education. (Contains 1 note.)