I'll just kind of sum up what everyone else has said.
Your goal is to educate the pledges about fitness and then enable them to complete a program.
So in effect, you want to teach them how to be healthier, have them set goals, work with them on those fitnesss goals, and evaluate their progress.
Sounds pretty win win to me. As long as the goals are written and they choose what those individual goals are, you should be ok.
Another thing you might want to do is enroll the chapter pledges as a whole in the body-for-life contest bill Phillips has.
www.bodyforlife.com
That way the training journals and workout materials etc are not being generated by you, but rather independants.
Buddy the pledge with a chapter member that has a same schedule but is not the big if possible. It creates more bonding.
If you stuck with it. You might have the studliest group of guys on campus pretty quick