A frat party is a shorter way of labeling a fraternity party, or a party thrown by a fraternity. Sometimes frat parties are used to raise funds for a fraternity, but other times they are simply a way to network and meet new people.

A fraternity or sorority is a group of men or women with similar aspirations and goals. Often, pledging a fraternity or sorority involves making a commitment to help other members throughout their lives.

Commonly referred to as Greek organizations, fraternities have been around since the late 18th century. The organizations are referred to as Greek because of the symbols used to serve as a reminder of the fraternities' values. Phi Betta Kappa, founded in 1776 at the College of William and Mary, was the first Greek-letter society. Alpha Phi Alpha, started in 1906, was the first African-American fraternity, founded as a support group for black students. As well as social fraternities there are also professional, academic and service fraternities.

Membership in certain fraternities and sororities can also effect a student's future after college. According to Ball State University, fraternity and sorority alumni who become successful will often hire students from their same fraternity or sorority. Alumni also donate their time and money to help keep the fraternity or sorority going.