Often times, students are worried about the flashiness of their titles on their resume and want recruiters to see the prestige of their leadership in these titles. While it is definitely important to gain leadership experience and exposure while you are a college student, the title only does so much.
The real importance of gaining leadership skills as an undergrad is being able to take the experiences you have and grow from them and understand how you grow from them. From a recruiting standpoint, recruiters and interviewers will find it much more impressive to hear about how a student led an initiative in a club or organization and how they have learned and grown from it, than see a student with a flashy leadership title with nothing to show for it.
In conclusion, it is essential for students to gain leadership opportunities inside and outside of the classroom, but it is not all in the title of what he or she is doing. It is about learning how to be a leader on a team and adding value to the team that you are on, because ultimately that is what a company is looking for in you.