The chapter I used to advise also did the candy bars for grades - handed out at chapter meetings. Any "A" paper, exam, etc....earned a candy bar.
There was also an awards banquet for the chapter, and the top 5 gpa's were honored at that banquet (but they didn't do a "step meal" based on GPA, which actually sounds like a good idea).
Make sure whatever ideas you decide to incorporate can be accounted for in your budget.
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