ESTIMATE OF STUDENT EXPENSES FOR THE SPRING 2011
COLGATE LONDON ECONOMICS STUDY GROUP

The following is an estimate of all student expenses beyond tuition and student fees. It is based on expense reports by members of previous London Study Groups and the latest available information from Professor Michl.  These dollar figures have had 5% added for inflation and were calculated at an average exchange rate of $ 1.44653 U.S.  per British pound (as of 3/31/10). Where student-reported figures are listed, the average and the range are included.  You should not assume that these amounts will be sufficient without careful spending!

REMEMBER THAT THE COSTS LISTED HERE ARE BASED ON ESTIMATES IN THE LOCAL CURRENCY.  WITH THE FLUCTUATING DOLLAR, COSTS MORE THAN LIKELY WILL CHANGE BETWEEN NOW AND THE TIME THE STUDY GROUP DEPARTS.

A) AMOUNT BILLED BY COLGATE BEYOND TUITION

$    4,907 Room in London (3,392)
  +  1,056 Room and meals on field trips (730)
$  5,963 TOTAL AMOUNT BILLED BY COLGATE BEYOND TUITION

B) TRANSPORTATION - NOT BILLED BY COLGATE

$  1,200 Roundtrip group airfare from New York to London.  A connecting flight to NYC may increase cost. (May be billed if student opts for Colgate-arranged flight.)
      210 Tier 4 student visa fee (145 as of 3/31/10)
       521 Monthly tube card (90/month x 4 months)
 +    100 Estimate - Roundtrip ground transportation airport/flat  (Airport pick-up arranged for Colgate-arranged flight.  This would be a billable expense.)
$ 2,031 TOTAL ESTIMATED TRAVEL EXPENSES

C) NECESSARY OUT-OF-POCKET LIVING EXPENSES - NOT BILLED BY COLGATE

$1,834 Food - group average (range: $750 - $4,000)
+   311 Necessary expenses:  books, local transportation, printing fees, daily living items, etc. - group average (range: $113 - $750)
$2,145 TOTAL ESTIMATED NECESSARY OUT-OF-POCKET LIVING EXPENSES - GROUP AVERAGE

D) PERSONAL EXPENSES - NOT BILLED BY COLGATE

$ 2,464 Personal expenses such as gifts, toiletries, film, entertainment, and any personal travel.  Students often decide to travel on their own during weekends or during the semester break.  The range for personal spending and personal travel is $347 - $10,848.

TOTAL ESTIMATED EXPENSES BEYOND TUITION (A+B+C+D)

(A) $ 5,963 Amount billed by Colgate beyond tuition
(B)    2,031 Transportation to study group site (estimated for budgetary purposes)
(C+D) + 4,609 Total estimated out-of-pocket and personal expenses - group average
  $12,603 TOTAL ESTIMATED EXPENSES BEYOND TUITION - GROUP AVERAGE
    -6,080 Minus on-campus room and board ($5,095) and on-campus expenses ($985) according to the Financial  Aid Office
  $6,523 TOTAL ESTIMATED EXPENSES BEYOND AN ON-CAMPUS SEMESTER

INCREASES IN THE AID "PACKAGE" WILL BE BASED UPON THE ABOVE FIGURES.

5/11/10