The Alpha Eta Chapter of Iota Phi Theta Fraternity Incorporated was founded on February 22, 1935, on the campus of Southern University and A&M College. This chapter was chartered by nine young distinguished gentlemen.

The Iotas Initiated Into Alpha Eta scholarship fund awards undergraduate and graduate scholarships annually. Awards will be made on a competitive basis for the Fall and Spring academic semesters. In partnership with the Southern University System Foundation, this Scholarship program will provide sizable financial support for high achieving SU students.