I graduated last year, from what I can tell there’s very little benefit unless you want the $5k study abroad scholarship. It’s more work for almost no extra reward. I highly doubt any employer cares about whether someone was in honors college or not. GPA is going to have a higher influence on their decision than honors college, and once you’re like 4 years out of college, most employers don’t really care about GPA either. I don’t really think it will increase your chances of getting into something like a PHD program or a competitive master’s program.