The expectations of preps are to do well in school, have money, be well dressed play sports, and be popular. These are high expectations, and can lead to an excessive amount of pressure. Someone who is looked at as a prep may feel as though they aren't meeting those expectations.
There aren’t any more advantages than disadvantages to being considered a prep. Some advantages might be that you’re looked at as if you have money, generally they do tend to be wealthy. Having money in our society is an advantage. You can get further if you have money. Disadvantages could be that people expect you to go to a higher level college or university. The pressure for that could become too much for certain people. Not everyone performs well under pressure. With the pressure for good schooling comes the pressure for a good career. Career fields like medicine or law are typically what’s expected. Some people would consider the “prep” group as a desirable one. If you’re from a community where this is the normal, swaying from this label may be frowned upon. If you’re from a community of lower class, it still may be desirable, it just won’t be the norm.