<p>I imagine that things like tuition and activity fees are going to be relatively inflexible. But how do they calculate room and board? Do they work from the assumption that you pick the the cheapest dorm they offer and the barest meal plan or do they work from what most students pick? Also, how do they do the calculations of books and personal expenses? I'm guessing this would have to be from the average reported by students... but do personal expenses include things like gratuitous trips to Starbucks for an overpriced mocha?</p>
<p>It varies from college to college. Typically, they assign a cost for tuition and required fees. That’s pretty reliable.</p>
<p>Then they add a room/board, cost, typically for the most common double room in a dorm, and the meal plan that most students choose. Check them here-- they may choose a meal plan that’s the Cadillac of meal plans, which you may not want or need, and you should adjust your estimated budget accordingly.</p>
<p>Look out for required medical insurance. Often required, sometimes included in their COA, often not included. You can often waive if you’re already insured, and it covers you while in college. The required college plans run from $200 per year to $1500 per year, so plug that cost in if it applies.</p>
<p>The rest of the fees are wildly varying estimates of books, miscellaneous expenses, and transportation. Most include these, some don’t. Some claim to base these on surveys of recent students, some don’t. I’d ignore the estimates the colleges use, and plug in your own, based on the student, and the distance to college. That way it’s easier to compare offers from different schools, comparing apples with apples.</p>
<p>I saw one college the other day that included cell phone bill in their COA!</p>
<p>Your actual costs can be considerably less than the college’s estimates for books, transportation, and miscellaneous, if you search out used books, and are frugal.</p>