My introduction, need your advice as well.

[adpiucf]

The most difficult aspect of starting an organization is recruiting and retaining members. I suggest you broaden the scope. You will have a hard time finding members if the criteria is restricted to poets. Why not widen it to literary arts? You will appeal to a wider audience. Think about it. You could have special interest committees and opportunities for poets, as well as other literary types, to nurture those interests, and to share them with the rest.

There is a national fraternity called Zeta Phi Eta specializing in communication arts. They may be a good fit. Perhaps you could start a chapter at your school.

Reinventing the wheel is very difficult. Why not start out with an established organization so you can get your bearings and have some support? If it later doesn't work out, you will at least have learned about how to run an organization, work with the administration, and recruit members should you choose to start something from scratch.

As far as naming conventions, you can call your local whatever you want. 2-3 letters, 4 letters, whatever. It doesn't matter how we feel about it; it matters what your members think.