Compiling c++ using ssh on ipad2?
SSH is simply a protocol used to connect to a remote computer. It doesn't really restrict what you can or cannot do once you're logged in to that computer. And iOS doesn't really have any restrictions on typical SSH usage (except that you can't set up a tunnel for other apps).

So if you can do what you need to using SSH from your computer to your school's computer, then you should be able to do the same on the iPad with an SSH app.

There are several iOS SSH clients around, my favourite is Prompt; iSSH is pretty popular as well.