Fraternities and sororities exist for the personal and professional development of their members and their community. Greek organizations are typically founded on principles of scholarship, leadership, friendship and service that are taught internally by a national Ritual to the members who strive to exhibit those principles in their daily rituals.

The Greek community at W&L is composed of 16 national fraternities including two historically black Greek fraternities and 7 national sororities including two historically black Greek sororities. Approximately 80% of the student body is Greek affiliated, 85% of men and 75% of women. Approximately 225 Greek men (30% of Greek men) and 100 Greek women (15% of Greek women) live in one of the 20 Greek chapter houses on campus.

The chapter houses are owned by the University and leased to a house corporation for each organization. Each house corporation hires a house director to live in the residence and care for the facilities and the chapter members. Each chapter house is equipped to serve meals to the entire chapter membership.

Annual Greek community events include a Halloween Community Carnival attended by approximately 750 local children and their parents and Day of Dialogue attended by approximately 350 Greek students to discuss an important topic affecting Greek Life at W&L.