Abstract
The construction of student hostels in the private universities of Nigeria has become challenging due to increasing costs, poor performance, and little consideration of sustainability. This research work provides a Value Engineering (VE) model to optimize the cost, functionality, and sustainability of student hostel construction in private universities of Nigeria, considering Nile University of Nigeria as an example. The study uses a quantitative research methodology design. A questionnaire was used for data collection from 64 purposefully selected respondents consisting of professionals working in construction, university administration, and hostel users; while secondary data regarding the layout of the hostel, energy use and water use were considered. Descriptive analysis and multiple regression were conducted in SPSS, supported by thematic analysis of qualitative responses. The findings reveal that cost factors accounted for 42.0% of the variance in value delivered (R² = 0.420, F = 5.272, p < 0.001), with material price variation as the only predictor factor (β = 0.394, p = 0.017). Functional factors account for 76.9% of the variance (R² = 0.769, F = 30.502, p < 0.001), mainly due to the availability of facilities that enable academic and social activities (β = 0.844, p < 0.001). Sustainability variables explained 76.6% of variance (R² = 0.766, F = 29.478, p < 0.001), with effective waste management (β = 0.486, p = 0.001) and environmentally responsive design (β = 0.377, p = 0.001) as significant predictorsThe overall effectiveness model for the VE framework was significantly high (R² = 0.812, p < 0.001) with the institutional enforcement of policy being the key (β = 0.775, p < 0.001). The research findings indicate that the best way to optimize cost efficiency and performance is through a systematic application of the VE framework, which should be institutionally enforced.

Key words: Value Engineering; Student Hostels; Cost Optimization; Sustainability; Functionality; Nigerian Construction Industry