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How Much Does It Cost to Attend Hogwarts?

Even Hogwarts isn't immune from rising education costs. Centives, an economics blog hosted by Lehigh University, ran some calculations and figured out how much it costs for a student to attend:

The total cost for the first year at Hogwarts comes out to £26,816 or US$42,752 at today’s exchange rates. This of course is the bare minimum and doesn’t consider the cost of pets, Quidditch robes and other incidentals that every student invariably faces. Nor does this analysis account for the premium paid for magical items.

Link -via Marginal Revolution | Image credit unknown, via Diary of a Death Starlette

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The Weasleys seem able to afford multiple children in Hogwarts despite austerity measures like hand-me-down robes. The Ministry of Magic must pay better than I thought.
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