Instead, the university issues bonds to cover the costs.Ĭhristopher Palmer, an assistant professor at UC Berkeley’s Haas School of Business, also said UC Berkeley’s land is extremely valuable because of the highly competitive Bay Area market. The debt service does not cover construction costs from the past two years. In comparison, dining services amounted to 21 percent. During the 2013-14 academic year, debt service accounted for about $29 million - or 20 percent -of the overall RSSP budget. Most of debt service pays for construction work for renovation and new RSSP projects, according to Ratliff.
“Berkeley’s student housing operations are auxiliary and self-supporting,” Ratliff said in an email, adding that they do not use state, campus or student fee money for housing and dining. The cost of living in the UC Berkeley residence halls is high in part because of their location in the expensive Bay Area real estate market, according to Adam Ratliff, spokesperson for the campus’s Division of Student Affairs. A triple-occupancy room costs $12,726 per student for the current academic year, while tuition for in-state students costs $12,972. In addition to dining services, staffing and maintenance, the budget for UC Berkeley’s Residential and Student Service Programs, or RSSP, includes “debt service,” which includes the costs of housing projects.Ī similar report from Business Insider for the 2013-14 school year also listed UC Berkeley as the nation’s third-most expensive in fact, UC Berkeley was the only college to appear on both top-10 lists.Īt UC Berkeley, the cost of university housing rivals tuition for in-state students. Room and board, as defined by the report, combines the cost of lodging and meals for one academic year. The price for UC Berkeley’s listed room and board beats out that of private schools such as the University of Chicago and University of Southern California, as well as other West Coast state universities such as the University of Oregon, the University of Washington and Arizona State University. News & World Report, UC Berkeley - the only public university included in the top list - offers the fifth-most expensive room and board in the nation. A recent report ranks UC Berkeley’s campus-run student housing among the highest in the nation.Īccording to U.S.
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