Honors Program

So what advantages does the honors program give you? Is it tough to be in the program and the accelerated 3+1 BS/MBA program at the same time?

My dd was accepted into the 3+3 law program and honors. She is considering everything but trying to compartmentalize the advantages and disadvantages of doing one, both, or neither program! Are there standard financial incentives to either the 3+3 or honors programs?