A student contractor website?

I have a school project that requires me to come up with a website based on my demographic of college kids at my school. I go to a creative technical school. So I decided to do a website that allows companies to post jobs for student graphic and web designers to bid on.I`m unsure though what a potential business model would be though. I mean I`m thinking of charging job posters ala "Monster" or allowing free posting with a "premium" component. I`m also thinking of AD space. This is beyond the scope of the project but I think there`s an opportunity here.Also is there any type of sites like this that already exists.
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I like the craiglist idea craig. (no pun inteded) I`m suprised there hasn`t been a better solution yet for contractors in general. SUN seems to be doing a good job but a lot of sites I`ve seen are bloated, and almost overwhelming for first time users.