Latin honors a thing of the past?

I read somewhere that Justice Roberts attended college at Harvard University and graduated summa cum laude in three years and that Senator Cruz graduated cum laude from Princeton University. Recently I paged through a new graduation book (not of the above schools) but didn’t see anywhere Latin honors were mentioned. Are Latin honors only used by a few schools or nobody cares about them any more these days? Maybe I can tell my kid don’t worry about grades in college when he gets there.