Most fraternities are party excuses. Others aren't. If you are in the right fraternity it can get you ahead in life, because they take care of their own.
My brother has a good position in a big company, and he got that because of the "old boys network" of his fraternity. Many of them got their good jobs through their "old boys network".
Think of Skull and Bones. That kind of fraternity you want, not the kind with beer funnels, baggies of vomit in the freezer and spank paddles with ominous Greek symbols. People are weirded out by Skull & Bones but thats what a real fraternity does: advancing itself and its members by getting people places, who then reel other members in.
The key thing to look for is whether or not the fraternity gets visits from aged old geezers who "used to be in the fraternity in *insert decade*" and who seem affluent. A fraternity that doesn't have a network of older members going back decades is of little more use than a distraction from studying.
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