Power
You'll have the power to help students and enact some real change in your school.
A lot of times, if a student is having financial issues and can't afford to go on the class trip to Washington or pay the money needed to join band or the football team, the Veep is the person who can find it in the school budget to iron things out for them.
You could be the deciding vote on if a student gets expelled or gets another chance to make amends.
You will also have plenty of power over the students in the school, without as much of the headache and responsibility that the school principal has to deal with. Now...what are you gonna do with it?