The Phi Beta Kappa Society (ΦΒΚ) is the oldest academic honor society in the United States. It is respected by many people. due to its long history and academic selectivity. The purpose of Phi Beta Kappa is to improve study and research in the liberal arts and sciences. The society wants to have outstanding students of arts and sciences at American colleges and universities as members. It started at the College of William and Mary on December 5, 1776 as the first Greek-letter fraternity at a college and was one of the earliest collegiate fraternal societies.