from the Eighteenth Report of the Board of Scrutiny, published in the Cambridge University Reporter on 17 July 2013:
Cost of undergraduate education
37. The Board views with concern the substantial downward revision (from £17.1k to £14.8k per capita) of the University’s estimate of the annual cost of educating undergraduates. This is a figure with a high visibility nationally: it is widely used to justify the level of undergraduate fees and bursaries, and fundraising in support of the latter. It must command confidence, and so needs to be supported by a robust and clearly explained calculation methodology.
38. The Board recommends that the University publishes details of how the cost of an undergraduate education is calculated.