When I was in school, it was a fairly big deal - unless the self-termination/deactivation was for something really benign and enforced by a national rather than chapter policy. One of the sororities had a really anal payment system, the girls couldn't have payment plans or something (plus their national dues were the highest on campus) and because of this some of them had to deactivate. A lot of them stayed close with the sisters even after they left.
Now if you quit because you just weren't feeling it, or if the sorority/fraternity terminated you for behavior or just being a general jagoff reasons, that was a huge thing. Sometimes you were almost afraid to terminate someone who came across as a nice person even if she was a shitty sister because it would make the sorority look bad.
Oh, and the entire time I was in college, we had a 100% initiation rate of women who pledged. I never knew this was so rare until I heard of sororities giving awards for it. We had a couple girls who signed open bids and then didn't pledge, but that was a different matter. I think most of the other sororities were similar. I attribute this to the fact that we had deferred rush and by the time girls started pledging they knew what being in a sorority was all about and that they were where they wanted to be.
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It is all 33girl's fault. ~DrPhil
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