I was at a VERY laid back school, and some of the chapters were still giving gifts in the mid 80s, although it was not a "must." It wasn't anything like a pearl necklace though - just little stuff like notepads with the sorority's name on, potpourri bundles, etc.
As far as cost, I'm sure there was a chapter member with parents who owned a print shop or whatever else the gift was. The gifts were nice, but they didn't "sway" me in any way.
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It is all 33girl's fault. ~DrPhil
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