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The availability of student dormitories has become a major attraction for universities in Indonesia since many universities have provided this facility. In this study, we examine the potential of a student dormitory development at the Budi Luhur University, especially in terms of finance for student interests and education providers. Primary data were collected from 185 students and were analyzed by employing feasibility test of Net Present Value (NPV), Internal Rate of Return (IRR), Net Benefit Cost Ratio (Net B/C), Profitability Index (PI) and Pay Back Period (PP). Sensitivity analysis was also carried out both in terms of cost and income to anticipate the uncertainty that may occur. The findings indicated that the total investment required in the construction of the student dormitory was Rp 155,857,800 with an average revenue per annum of Rp 58,314,741,732. The results of the investment valuation analysis of net cash flows for 30 years indicated the NPV value of Rp 187,355,802,592, IRR of 21%, Net B/C of 10.57, PI of 2.20, and PBP 6.45 years. This proved that the investment in the student dormitory construction was considered feasible. Finally, from the sensitivity analysis of changes in occupancy rate, rental rates and operational costs, it was concluded that the investment in dormitory construction would be unfeasible when occupancy rates and rents were at the level of 80% down. Further managerial implications were discussed.  Keywords: student dormitory; investment; investment feasibility test; sensitivity analysis.

A STUDENT DORMITORY AS AN EDUCATIONAL SUPPORTING FACILITY: AN ENTERPRISE BUDGET ANALYSIS