My Dad tells me that Pinning was a very serious undertaking in his day. It was viewed as effectively being engaged and normally signaled that marriage was to be either shortly after graduation or upon return from military duty.
That was back in the days of the draft and the Viet Nam war.
Lavaliering was about the same level of committment as giving your high school ring. Not really seen as permanent with a definite path to formal engagement.
In my experience it seems to vary widely from house to house. Some fraternities seem now to view pinning on the level of 'going steady' in high school. Other houses still tend to see it as a major committment of intent. All in all it seems to be less monumental than a generation ago but at least with some fraternities it is still a pretty major undertaking.
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A man has to believe in something, I believe I'll have another drink.
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