I posted a thread on the College Confidential discussion forum that addresses this issue, mainly through the perspective of a Hechinger Report article by Jill Barshay. The thrust of the article is “Financial aid awards can be compromised by flawed student surveys of cost of living.”
A while back, I wrote about the staggering cost of college, in particular, student budgets. I cited as one example NYU’s Tisch School of the Arts. You can see here that the total student budget comes in at around $76,000. What this figure doesn’t include is just how much it costs to live in New York City, especially if you live off campus.