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The Phi Beta Kappa Society (ΦΒΚ) is the oldest academic honor society in the United States, and the most prestigious, due in part to its long history and academic selectivity. Phi Beta Kappa aims to promote and advocate excellence in the liberal arts and sciences, and to induct the most outstanding students of arts and sciences at only select American colleges and universities. It was founded at the College of William and Mary on December 5, 1776, as the first collegiate Greek-letter fraternity and was among the earliest collegiate fraternal societies. Since its inception, 17 U.S. presidents, 40 U.S. Supreme Court justices, and 136 Nobel laureates have been inducted as members.Phi Beta Kappa (ΦΒΚ) stands for Φιλοσοφία Βίου Κυβερνήτης (Philosophia Biou Kybernētēs), which means "Wisdom [lit. love of knowledge] is the guide [lit. helmsman] of life".