What College Really Costs...

Think college costs a lot? Some of the most expensive colleges in fact cost far more than they charge. This Chronicle of Higher Education article -- "Hey, Students, Your Education Costs More Than You Might Think" -- takes a look at students' awareness of the real cost of college.

As Karen L. Leach, vice president for administration and finance at Hamilton College in Clinton, New York, lays out the case:

Counting all the tuition the college brings in, but subtracting financial aid, Hamilton's budget is $115-million, she explained. Divided by the enrollment, 1,812 students, that comes to a cost of about $63,500 each. Then, subtract the $53,470 the college charges in tuition, fees, and room and board: "Each person, even a full-pay student, gets at least a $10,000 scholarship," Ms. Leach said.