Sad news for BC Betas
 

Please let the Psi chapter of Beta Theta Pi from Bethany College be in your thoughts this evening. Their chapter was closed this past week for financial reasons. Their house was taken away mid-January and the guys had to move at the beginning of the semester, but they hung in there, re-situated themselves, and had a wonderful rush party (the biggest on campus) this past Monday. Their sad news came later. This is a huge blow to Bethany Greek life and to Beta as a whole. They were a bunch of really great guys :(

Why?
 

Did they just die from small numbers, or was there a cause?

Most of the fraternities on my campus are on the smaller side (we have 800 students total). The word I got from the guys last night is they owed their Nationals a lot of $$ :(

Hate to hear about this, especially on the campus where we were founded.

I've heard of chapters running up HUGE balances with their HQ's. All it takes is a few unpaid insurance bills by an irresponsible treasurer and you can be looking at a huge amount of debt.