In the following extract, the College of Charleston, USA, describes on its website how it estimates the standard cost of attendance in respect of a student.
To consider a student for federal financial aid, the College of Charleston must assign a student expense budget to each aid applicant. The student expense budget includes direct cost of tuition and fees, room, meals (assumes 21 meals per week), and indirect cost of books/supplies, transportation, personal/ miscellaneous, and average loan fees for students accepting loans. The non-direct cost components of the student expense budget such as books/supplies, off-campus housing, transportation, personal/ miscellaneous expenses are determined by a survey of students and then adjusted annually by the rate of the regional Consumer Price Index (CPI).

Discussion points

1 Do you agree with the method used to calculate the standard cost of attendance?
2 Would the same standard cost apply across all the levels of degree study?