What is a cost of attending college that is not an opportunity cost?

What is the opportunity cost of a year of college in money terms?

• A student, has just been accepted to college. The cost of a year's tuition is $26,000, which does not include room and board. If the student decides not to attend college but work instead, he can take a job that pays $19,000 per year. What is the opportunity cost of a year of college in money terms? 45,000 26,000 19,000 7,000 Please explain answer

• Answer:

  Note that the $26,000 for tuition does not include room and board. Room and board is not a cost of college, because you still have to live somewhere and eat even if you don't attend college! So, the full $26,000 is an expense that the student only incurs if he goes to college, making it part of the cost. The other cost of college is lost wages of $19,000. This gives a total cost of $45,000.