The Gamma Chapter of Phi Beta Kappa was established at Rhodes College on December 5, 1949.  In addition to recognizing outstanding graduates, the Rhodes College Chapter of Phi Beta Kappa sponsors an annual lecture by a distinguished Visiting Scholar and awards the Peyton Nalle Rhodes Prize at commencement to the graduating senior who has best demonstrated an exceptional combination of scholarship, creativity, achievement, and a commitment to the liberal arts and sciences. The Rhodes Prize is considered the college′s highest academic honor.