Thanks for all the replies, no matter which side of the argument.
Now, I do have complete faith in her and do not believe she will stray from me just because she'll be at parties with frats, we're at UCSB which is one of the largest party schools in the nation and there are hundreds of chances to cheat for both of us, greek life will be nothing but a minor factor.
Socials will suck, and I understand that she does not need to attend these. But you also have to realize, she's joining a sorority to find close friends that will always be there for her, not many girls will be willing to befriend the girl who does not go to certain functions and is partying with her boyfriend at every single event, they just won't. So there will be events that I will be allowed to attend and events that she won't have to attend, but we'll be partying seperately a lot for that single reason.
I've come to a realization, mostly after reading these posts, that none of this matters because if she cheats, then she cheats. And if my girlfriend decides to take that route, then I should be so lucky that I didn't waste any more of my time with her and I'll be able to move on from there. Sure it will be in the back of my head, but I just have to be supportive, trustworthy, and be ready to move down the road alone if she decides to **** all of this up.