an American society for university and college students who have done well in their studies (From the first letters of its motto philosophia biou kybernetes ). Leading academic honour society in the U.S., which draws its membership from college and university students. The oldest Greek-letter society in the U.S., it was founded in 1776 as a secret literary and philosophical society at the College of William and Mary. It became an honour society in the 19th century. Membership is now based on general scholarship, and new members are usually elected by Phi Beta Kappa faculty