Overall Fraternity/Sorority Basics Pt. 1

Joining the Greek community means "opportunities for leadership development, service, brotherhood, academic achievement, networking and social engagement," "a home away from home" and "an opportunity to belong to one of the world's largest lifelong, personal development organizations," according to the North-American Interfraternity Conference, a trade association representing 5,500 men's fraternities at more than 800 U.S. college campuses.

In the 2010-2011 school year, the most recent year for which data are available, more than 300,000 men belonged to undergraduate fraternities, gave 2.25 million hours of community service and raised $14.6 million for charity. The National Pan-Hellenic Conference, which represents 2,986 women's fraternity and sorority chapters on 655 campuses, says women's fraternities provide value beyond the college years, by helping individuals develop their potential "through leadership opportunities and group effort." While you may not be able to put a price on benefits like these, you can put a price on the many expenses associated with membership.

Room and Board
The room and board expenses associated with belonging to a sorority or fraternity vary by school and chapter. At the University of North Carolina (UNC), for example, the average cost for a fraternity member's room, board and dues is $2,970 per semester but ranges from $1,600 to $5,000. For sorority members, the average cost is $2,987 per semester and the range is $2,575 to $3,407. Living in a Greek house is not necessarily more expensive than living in student housing and buying a university meal plan. For example, in Westwood, the upscale Los Angeles neighborhood where UCLA resides, Greek housing can actually save students money. The costs for both seem to be steadily rising as well, but there are ways to combat rising college costs.

New Member Dues and Active Member Dues
At UNC, new members pay $600-$900 in new member dues in the semester when they join. Thereafter, the average cost is $200 to $300 per semester. Dues consist of chapter dues, national dues and pan-hellenic dues. This money helps cover expenses, such as liability insurance, house upkeep, scholarships and social events. Some chapters have payment plans that help members meet their dues obligations.