it is usually less expensive for college students to live on campus than to live at their parents’ home and commute to school.

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Room and Board

Rising concerns over tuition and student debt have led to a sense that college has become "unaffordable." But what does affordability actually mean?

Room and Board

Everyone, regardless of whether they’re in college, must have housing and food. Room and board are not costs specific to college, although going to college might affect how much people have to pay for food, housing, and other living expenses.

The room and board charges discussed here are drawn from on-campus housing charges at public and private nonprofit four-year colleges and universities. Estimated housing and food expenses for all students, on campus or off, are included in student budgets.

Room and Board by Type of Institution

Almost 60 percent of full-time students enrolled in private nonprofit four-year colleges and universities live in college housing, compared with 36 percent of public four-year college students and virtually no students in other sectors. One-quarter of full-time undergraduate students live at home with their parents. For these families, living costs are likely not very different for college students than for high school students.

Living Arrangements of Full-Time Undergraduates, 2015–16

On-campus Off-campus With parents 3% 5% 58% 36% 32% 73% 44% 29% 46% 44% 24% 51% 13% 17% 24% For-profit Public two-year

Private noprofitfour-year

Public four-year Total 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110%

Source:

2016 National Postsecondary Student Aid Study, PowerStats.

Note:

Percentages may not add to 100 percent because of rounding.

SAVE IMAGEDOWNLOAD DATA (CSV)

Room and board charges vary less by institution type than do tuition and fees. For example, room and board charges averaged $12,210 at private nonprofit four-year institutions and $11,800 in the public sector in 2018–19.

Average Published On-Campus Room and Board Price by Type of Institution, 2018–19

Source:

Jennifer Ma, Sandy Baum, Matea Pender, and CJ Libassi, Trends in College Pricing 2018 (New York: College Board, 2018), table 1.

SAVE IMAGEDOWNLOAD DATA (CSV)

Room and Board by State

Like all housing and rent prices, on-campus dorm prices and estimated off-campus housing costs vary both across and within states. College housing is most expensive in high-cost areas, such as New York, California, and other coastal states.

Average Price of On-Campus Housing at Four-Year Public Institutions by State, 2017–18

Source:

Integrated Postsecondary Education Data System, 2017–18.

SAVE IMAGEDOWNLOAD DATA (CSV)

On-campus housing prices do not always align with local rent prices. The price of living on campus at a four-year college is often much higher or much lower than the average rent paid by 18-to-24-year-olds in the same area. In the most populous states, such as New York, Texas, and California, the price of on-campus housing is lower than average rents.

Difference between the Average Price of On-Campus Housing over the Academic Year at Four-Year Public and Private Nonprofit Colleges in 2015–16 and Average Rent over Nine Months among 18-to-24-Year-Olds in 2015 Dollars, by State

Source:

Integrated Postsecondary Education Data System and 2012–16 American Community Survey, five-year sample.

Note:

On-campus housing is the room portion of on-campus room and board. Institutions are weighted by full-time undergraduate fall enrollment. Average nine-month rent amounts are calculated as nine times the average monthly rent of 18-to-24-year-old heads of household renting one-bedroom or studio apartments between 2012 and 2016, in 2015 dollars . These data are less reliable for smaller states. Negative values indicate on-campus housing prices lower than average rents; positive values indicate prices higher than average rents

SAVE IMAGEDOWNLOAD DATA (CSV)

In 8 states, students pay more to live on campus than they might have paid in rent over a nine-month academic year. In most states, however, average on-campus housing prices are less than the average rent paid by 18-to-24-year-olds.

This does not, of course, mean that students can save exactly these amounts of money by living on or off campus. There is considerable variation in rent prices within states. Urban areas are more expensive than rural areas, and living near a college campus may be more expensive or less expensive than living in other neighborhoods. In addition, these comparisons do not control for quality differences, and college dormitories may be different from the typical apartments young people rent.

Room and Board Charges over Time

Room and board charges have steadily increased over time, but not as much as tuition and fees.

Average On-Campus Room and Board Charges by Sector, 1971–72 to 2018–19, in 2018 Dollars

Private nonprofit four-year

Public four-year 1974 1978 1982 1986 1990 1994 1998 2002 2006 2010 2014 $0 $2k $4k $6k $8k $10k $12k $14k

Source:

Jennifer Ma, Sandy Baum, Matea Pender, and CJ Libassi, Trends in College Pricing 2018 (New York: College Board, 2018), table 2.

Source : collegeaffordability.urban.org

KEY Chapter 12 Review.pdf

View KEY Chapter 12 Review.pdf from MATH 0293 at Seven Lakes High School. Name: Class: Chapter 12 - Renting a Residence Date: REVIEW 1. It is usually less expensive for college students to live on

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Name:Class:Date:Chapter 12 - Renting a ResidenceREVIEW1. It is usually less expensive for college students to live on campus than to live at theirparents’home and commute toschool.a. Trueb.False2. University-owned apartments are usually available only to undergraduate students.a. Trueb.False3. Studio apartments have less living space than other apartments, and they are also more expensive.a. Trueb.False4. Rental houses are usually more expensive than other housing options.a. Trueb.False5. Choosing a friend as your roommate will not guarantee a successful living arrangement.a. Trueb.False6. For college students, finances will have a major impact on the decision of where to live.a. Trueb.False7. Furnished rentals are usually cheaper than unfurnished rentals.a. Trueb.False8. You usuallydon’tneed to worry about having a source of income untilafteryou have rented a place to live.a. Trueb.False9. You can save money on moving by doing your own packing.a. Trueb.False10. By far, the biggest advantage of renting is that tenants have no responsibilities whatsoever.a. Trueb.False11. Many rental properties do not provide garages or off-street parking.a. Trueb.FalseAcross the country, this statement is true.However, in Texas, it is customary to get a parkingspot of some kind.

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It is usually less expensive for college students to live on campus than to live at their parents' home and commute to school.

False

University-owned apartments are usually available only to undergraduate students.

False

Studio apartments have less living space than other apartments, and they are also more expensive.

False

Rental houses are usually more expensive than other housing options.

True

Choosing a friend as your roommate will not guarantee a successful living arrangement.

True

For college students, finances will have a major impact on the decision of where to live.

True

Furnished rentals are usually cheaper than unfurnished rentals.

False

You usually don't need to worry about having a source of income until after you have rented a place to live.

False

You can save money on moving by doing your own packing.

True

By far, the biggest advantage of renting is that tenants have no responsibilities whatsoever.

False

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Verified questions

ACCOUNTING

On July 1, 2017, Lula Plume created a new self-storage business, Safe Storage Co. The following transactions occurred during the company’s first month.

\begin{matrix} \text{July 1} & \text{Plume invested \$30,000 cash and buildings worth \$150,000 in the company in exchange for common stock.}\\ \text{2} & \text{The company rented equipment by paying \$2,000 cash for the first month’s (July) rent.}\\ \text{5} & \text{The company purchased \$2,400 of office supplies for cash.}\\ \text{10} & \text{The company paid \$7,200 cash for the premium on a 12-month insurance policy. Coverage begins on July 11.}\\ \text{14} & \text{The company paid an employee \$1,000 cash for two weeks’ salary earned.}\\ \text{24} & \text{The company collected \$9,800 cash for storage fees from customers.}\\ \text{28} & \text{The company paid \$1,000 cash for two weeks’ salary earned by an employee.}\\ \text{29} & \text{The company paid \$950 cash for minor repairs to a leaking roof.}\\ \text{30} & \text{The company paid \$400 cash for this month’s telephone bill.}\\ \text{31} & \text{The company paid \$2,000 cash in dividends.}\\ \end{matrix}

July 1 2 5 10 14 24 28 29 30 31 ​

Plume invested $30,000 cash and buildings worth $150,000 in the company in exchange for common stock.

The company rented equipment by paying $2,000 cash for the first month’s (July) rent.

The company purchased $2,400 of office supplies for cash.

The company paid $7,200 cash for the premium on a 12-month insurance policy. Coverage begins on July 11.

The company paid an employee $1,000 cash for two weeks’ salary earned.

The company collected $9,800 cash for storage fees from customers.

The company paid $1,000 cash for two weeks’ salary earned by an employee.

The company paid $950 cash for minor repairs to a leaking roof.

The company paid $400 cash for this month’s telephone bill.

The company paid $2,000 cash in dividends.

​

The company’s chart of accounts follows:

\begin{matrix} \text{101 } & \text{Cash} & \text{401} & \text{Storage Fees Earned}\\ \text{106} & \text{Accounts Receivable} & \text{606} & \text{Depreciation Expense—Buildings}\\ \text{124} & \text{Office Supplies} & \text{622} & \text{Salaries Expense}\\ \text{128} & \text{Prepaid Insurance} & \text{637} & \text{Insurance Expense}\\ \text{173} & \text{Buildings} & \text{640} & \text{Rent Expense}\\ \text{174} & \text{Accumulated Depreciation—Buildings} & \text{650} & \text{Office Supplies Expense}\\ \text{209 } & \text{Salaries Payable} & \text{684} & \text{Repairs Expense}\\ \text{307} & \text{Common Stock} & \text{688} & \text{Telephone Expense}\\ \text{318} & \text{Retained Earnings} & \text{901} & \text{Income Summary}\\ \text{319} & \text{Dividends}\\ \end{matrix}

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