Is Joining a Student Chapter of a Professional Organization Worth It?

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I'm curious about my school's local chapter of the AIAA. However, I'm not sure whether it's worth the time commitment to join. What is PF's opinion on the value of organizations such as these?
 
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I was once a student member of IEEE.

Basically, the student membership was affordable and it had lots of benefits (Discount on Wiley books, Microsoft MSDN access, monthly magazine, and others).

So joining such an organization is not a bad idea, but being an active member of the local chapter at your college is different, the way I see it, a waste of time and no one will really care about it (be it employers or grad school). I am saying this from personal experience.