“you MUST chip in towards the gift.”
Is someone going to haul you off to jail if you dont?
I went to a Bais Yaakov too. At the beginning everyone gives, and then the cheapos start dropping and when you are at the point where I am, where you are one of less than 10 left who are unmarried pretty much no one gives.
So, if you want, give. If you dont want, dont give.