You won't be punished, or even threatened, for joining a sorority at Harvard. The administration is very strict about non-recognized groups not advertising on campus, not using university resources, and not using the Harvard name publicly. In my experience, the sororities have never tried to do any of those things and there have never been any repercussions in joining. Financial aid grants CANNOT be withdrawn as a punishment, no matter what you do; either you will be asked to leave the college, or your financial need will be met.
I did not join a national sorority, but I have friends in both DG and Theta. Social life at Harvard can be wonderful, with or without a social club like a sorority. These groups represent a small portion (less than 10%) of the student body. The Houses, singing groups, sports teams, and other groups provide a lot of social support and structure; you just have to be pro-active about seeking out your niche. So spend your first semester exploring different groups and making friends, and when sorority recruitment comes around, you can see if it fits. Congratulations and have fun!
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