- Honorary Degree (1966)
- Doctor of Laws
- Bloomington, Indiana
- Presenter: Elvis Jacob Stahr, Jr.
- Distinguished Alumni Service Award (1960)
William Croan Greenough's career was marked by adventurous exploration, significant research, and authoritative writing; from his days as staff member at Indiana University, to his position as president of the Teachers Insurance and Annuity Association and the College Retirement Equities Fund. Greenough was a close friend of the School of Business and the Department of Economics, who gave freely of his time and talents; in furtherance of the programs of those divisions, as well as in all areas of the University where people sought his advice.