Automated polyp segmentation is critical for early colorectal cancer detection and its prevention, yet remains challenging due to weak boundaries, large appearance variations, and limited annotated data. Lightweight segmentation models such as U-Net, U-Net++, and PraNet offer practical efficiency for clinical deployment but struggle to capture the rich semantic and structural cues required for accurate delineation of complex polyp regions. In contrast, large Vision Foundation Models (VFMs), including SAM, OneFormer, Mask2Former, and DINOv2, exhibit strong generalization but transfer poorly to polyp segmentation due to domain mismatch, insufficient boundary sensitivity, and high computational cost. To bridge this gap, we propose \textit{\textbf{LiteBounD}, a \underline{Li}gh\underline{t}w\underline{e}ight \underline{Boun}dary-guided \underline{D}istillation} framework that transfers complementary semantic and structural priors from multiple VFMs into compact segmentation backbones. LiteBounD introduces (i) a dual-path distillation mechanism that disentangles semantic and boundary-aware representations, (ii) a frequency-aware alignment strategy that supervises low-frequency global semantics and high-frequency boundary details separately, and (iii) a boundary-aware decoder that fuses multi-scale encoder features with distilled semantically rich boundary information for precise segmentation. Extensive experiments on both seen (Kvasir-SEG, CVC-ClinicDB) and unseen (ColonDB, CVC-300, ETIS) datasets demonstrate that LiteBounD consistently outperforms its lightweight baselines by a significant margin and achieves performance competitive with state-of-the-art methods, while maintaining the efficiency required for real-time clinical use. Our code is available at https://github.com/lostinrepo/LiteBounD.