Ask HN: What is a fair rate/salary as a co-founder and student?

I am currently working on a small start-up that I co-founded. There are two members, I focus on technical stuff, my partner focuses on marketing/operations/business. It's important to know that I am an undergrad, and I am working on this project full time through the summer.

I have read numerous sources on how you should determine salary in an early stage start up, but it is just too messy to try and relate to them. I am a student and I have loans. Also - I have never had a programming job before this.

I have about 6 months of Rails experience, I also can write some front end HTML/Javascript. The other thing to consider is I am being funded by my partner. We have x dollars to spend as our runway fund. While it is solid amount, every dollar that I take decreases our runway.

So how do I even start to come up with this figure? Should I estimate what I would make as a Rails freelancer / intern? How do I even estimate that? At the same time, I can live extremely cheaply, my only real worry is loans when I get out of school.

Any advice on how to figure this out, or a figure would be great. Thank you.