Habit and tradition. Way back in the medieval age latin and greek were used by scholars to communicate since everyone with an education would learn at least one of those languages. As time went on and science progressed we labeled scientific discoveries with latin and greek terms because we were familiar with those terms. It helped a bunch when translating research into other languages and showed no bias for culture or nationality.
By the time we start seeing Fraternities and Sororities greek and latin were so heavily ingrained in the college aesthetic that it would feel wrong to use english equivalents.
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