The Alpha of Oklahoma Chapter is fortunate to have endowed awards that provide funding for several scholarships offered each year to outstanding juniors and seniors in the College of Arts and Sciences.
- The Amy Taylor Sewell Memorial Prize has been provided through the generosity of Ralph Sewell, a prominent figure in the world of Oklahoma journalism, to honor his late wife, Amy Taylor Sewell. Prizes are awarded to juniors who have the potential of becoming members of Phi Beta Kappa.
- The Savoie Lottinville Prize is named for the late Savoie Lottinville, a member of the chapter and longtime editor of the University of Oklahoma Press. Prizes are awarded to juniors who have the potential of becoming members of Phi Beta Kappa.
- The Mary Esther Selby Saxon Award was established in memory of Mary Esther Selby Saxon, a former Humanities and Social Sciences Librarian at the University of Oklahoma and a dedicated staff member of the High School and College Relations Department. The prizes go to graduating Phi Beta Kappa seniors who plan to do graduate work in any field of the Humanities or the Social Sciences.
- The Roland Lehr Memorial Prize was established in memory of the late Roland Lehr, a distinguished professor of chemistry, twice acting Dean of the College of Arts and Sciences, and active member of the Alpha of Oklahoma. Each year the chapter is able to make one or two Roland Lehr Memorial awards to deserving Phi Beta Kappa graduates who plan to pursue graduate work in the natural sciences, the physical sciences, or in medicine. The amount of the award varies from year to year.
- The Phi Beta Kappa Undergraduate Research Day Prizes are awarded to students whose contributions to the Undergraduate Research Day are ranked best by a panel of professors.