On-campus room and board charges have risen faster than the rate of inflation, contributing to the overall increase in the cost of attending a four-year residential institution. In this study, we draw on new analyses of data on colleges and universities and previous research to assess four potential explanations for the rise in on-campus living expenses. Our results suggest that institutions may have multiple motivations to raise room and board charges. However, we find that room and board charges increase at a steadier rate than tuition and fees.