The Phi Beta Kappa Society, the nation’s oldest academic honor society, held its MIT induction ceremony on Thursday, May 26, admitting 82 graduating seniors into the MIT chapter, Xi of Massachusetts. Phi Beta Kappa (PBK), founded in 1776 at the College of William and Mary, honors the nation’s most outstanding undergraduate students for excellence in the liberal arts, which includes the humanities and natural and social science fields. Only 10 percent of higher education institutions have PBK chapters, and fewer than 10 percent of students at those institutions are selected…