Psi Upsilon's foundation provides scholarships and other financial guidance to students throughout the United States and Canada, giving preference to its members, as well as mentoring and other support services.

[5] The first expansion chapter was started in 1837 when a member of Psi Upsilon at Union transferred to New York University.

[5] After the war, the executive council hired professional staff and established a central office to assist chapters.

At first, the office consolidated initiation records and address lists, published a newsletter and secured the fraternity's historical artifacts.

The members of Kappa chapter of Psi Upsilon also voted to accept women that year becoming the first co-ed fraternity on Bowdoin's campus and in Psi Upsilon.In 1976, Patricia “Barney” Geller attended the national meeting as Kappa's president.

[8] In 2014, Wesleyan University required all male-only fraternities to become coeducational, partly in response to issues with sexual assault and harassment.

[9] After Delta Kappa Epsilon's housing was closed for failing to comply with the changes, Psi Upsilon was the remaining fraternity at the school.

The fraternity agreed to become coeducational, but the chapter's housing was temporarily suspended by the school before any female students could join.

[12] On Saturday, January 20, 1990, the brothers of Psi Upsilon's Penn chapter kidnapped a rival fraternity member, subjecting him to various forms of physical and mental abuse.

[13] During the drive, the Psi U officers played a tape of a Malcolm X speech containing references to violence directed at whites.

They then conducted a mock “trial" which consisted in part of O'Flanagan's being subjected to physical discomfort, emotional distress, and repeated and intense verbal abuse.

The crime allegedly took place in late January of that year, with initial charges brought in early February.

[15] In May the accused student sued Cornell University, saying that their investigation process was flawed and non-compliant with recent changes in State law.