Will it put you at a disadvantage?
What percentage of kids stay on campus? A dorm is part of the business cycle - so there’s revenue involved and schools tout that kids on campus do better academically. If 25% live on campus or 60%, likely not. If 98% of first year do - then yeah, it will - but then why would you want to attend that school where you’d be at a disadvantage from day one.
What and how you’ll contribute - you need to share. How will you contribute? You don’t need to live on campus to contribute. But regardless of where you sleep, you should be able to answer this question.