A position, undeniably a god-like status, that is predominantly desired among graduating seniors. It involves complete dominance over the associated student government, unquestioned supremacy over the land, and indubitable preeminence over any "Grand Overlord".
"I heard that Alan wants to run for Supreme Chancellor; it would truly be an honor to serve under him with ultra-enthusiasm!"
"The Grand Overlord is threatening to destroy my family! I must seek the Supreme Chancellor's unquestionable genius to stop him!"