ESTIMATE OF STUDENT EXPENSES FOR THE FALL 2010
COLGATE STUDY GROUP IN MADRID, SPAIN

The following is an estimate of student expenses beyond tuition and student fees. It is based on expense reports provided by members of previous Madrid Study Groups and the latest available information from Professor Luciani. These dollar figures have had 5% added for inflation and were calculated at an average exchange rate of  1.233 U.S. dollars per euro (as of 5/18/10).  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

$   4,182 Room and meals in Madrid (3,392)
     1,822 Room and meals on field trips (includes Santiago) (1,478)
$  6,004 TOTAL BILLED BY COLGATE BEYOND TUITION


B) NECESSARY OUT-OF-POCKET TRAVEL EXPENSE - NOT BILLED BY COLGATE

$   1,450 Estimate - Roundtrip airfare NYC/Madrid (includes Madrid/Santiago de Compostela).  A connecting flight to NYC may increase cost.

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

$   250 Food in addition to that billed by Colgate - group average (range = $35 - $500)
     100 Long stay student visa fee (as of March 23, 2010)
+   329 Necessary expenses - books, local transportation (metro pass is about 30 euros/month; Colgate pays for the first month), etc. - group average (range: $200 - $500)
$  679 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 is $232 - $5,788.


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

(A) $   6,004 Amount billed by Colgate beyond tuition
(B)      1,450 Transportation to study group site (estimate provided for budgetary purposes)
(C+D) +   3,143 Total estimated out-of-pocket and personal expenses - group average
  $ 10,597 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
  $ 4,517 TOTAL ESTIMATED EXPENSES BEYOND AN ON-CAMPUS SEMESTER


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

Some students may incur additional expenses.  These may include but are not limited to travel and visa-related costs.  It is your responsibility to understand and plan for the costs unique to your situation.


5/27/10