Not that I'm familiar with how fraternity formal recruitment goes, but isn't it just as "tedious" as sorority FR? I ask because I have heard on many occasions from PNM's who got cut or received no bids during FR but then went through COR/COB. Also, with fraternity as with sorority are there rules on GPA?
I ask this because if fraternity recruitment is anything like sorority there are so many more "rules" and "regulations" during formal than there is during informal.
My advice is, if there was a house you were incredibly interested in, get to know the guys better on campus. Maybe some of them are in your classes. Say hi if you see one around. If they aren't at total they might hold some informal recuitment activities, go to those because they will be a bit more "down to earth".
I also have to agree with FSUZeta, get involved on campus in other ways. Do some volunteer work. Most importantly take care of yourself (mentally and physically) and keep your grades up. Remember, even if you don't end up joining a fraternity, that isn't what college is about, it's about that francy shamancy diploma where it should come to gold plated for the amount of money you spent on it
Good luck with whatever you decide to do and keep us posted!