Saying that doing a student organisation is a nice thing because it's cost of failure is 0, is not a very good logic.
In fact, it is the risk factor that mostly forces us to go above and beyond when everyone else is giving up. Persistence is the key, and a good way of achieving that could having limited high risk, so that you don't quit during tough times.
Sooner or later, there comes a point, when you have to make a lot of tough decisions, which mostly comes down to giving up versus fighting and finding your way out somehow.
Oh, and I totally agree that you probably should try and keep your actual money investment close to 0, and maximise your time investment. But, I also think you can build a business with minimum money involved, and by that I mean less than 500 bucks.
I am assuming a tech startup, where the main investment required is your time and code, and you can at least get a "proof of concept" working...which can be used to raise money and/or make sure it is the right idea.
Last, but not the least, if you know you are going to do a startup, or are at least curious if you can do it, you owe it to yourself to see it through. To go ahead and build it, or at least fail trying to build it.
The biggest upside to this startegy is that you only "learn" doing a student organisation. Whereas you actually succeed building a startup.
I don't intend to be rude, but this kind of sounds like you want to do a college degree right after high school, and you are confused, and you decide to go do a assosciate degree or something, to get the "feel" of a real college degree.
I repeat. THEY ARE NOT THE SAME THING.