I never wore them when I was in school and don't now. At my university, only the 'third world' houses wore letters. It drove the folks from National nuts that we wouldn't wear them--they seemed to think they were running a franchise and every chapter had to be the same everywhere.
Several years ago, a fraternity brother happened to be a professor at a school in the town in which I was living and he asked me to be an alumnus advisor to the chapter, which was relatively new. During that period I wore the letters at events and meetings or a lapel pin, but it never felt comfortable.
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