Usually those who graduate in the top 20% will receive some Latin honors. There are usually 3 honors depending on your GPA and also the GPA cutoff set by the department every year, usually above 3.5 or at least 3.75 which is very competitive.
In most cases, if you do well in your first quarter the Honor Society will approach you to be its member. Some major has its own honor department and you might be able to gain access to more resource. Yet, being in the honor program doesn't give you privileges in enrolling your classes earlier.
