CAMPUS CREST COMMUNITIES, INC.

	The Company															Predecessor
Summary of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends	Three Months Ended March 31, 2014			Year Ended December 31, 2013			Year Ended December 31, 2012			Year Ended December 31, 2011			Period October 19, 2010 through December 31, 2010			Period January 1, 2010 through October 18, 2010			Year Ended December 31, 2009
Earnings:
Income (loss) from continuing operations before taxes, noncontrolling interests and equity in earnings/losses of unconsolidated subsidiaries	$	539		$	7,619		$	10,128		$	5,336		$	(799	)	$	(17,862	)	$	(13,513	)
Add: Fixed charges		8,297			22,424			18,044			8,838			2,324			19,464			14,113
Add: Distributions of earnings from unconsolidated entities		-			17			766			-			-			-			-
Add: Amortization of capitalized interest		48			191			113			53			1			113			137
Less: Capitalized interest		(1,871	)		(3,272	)		(2,385	)		(1,950	)		(175	)		(85	)		(381	)
Total earnings	$	7,013		$	26,979		$	26,666		$	12,277		$	1,351		$	1,630		$	356
Fixed charges:
Interest expense (excluding amortization of deferred financing costs)	$	2,859		$	11,135		$	8,707		$	5,550		$	554		$	18,531		$	12,904
Amortization of deferred financing costs		517			1,834			2,838			1,338			1,595			848			828
Capitalized interest		1,871			3,272			2,385			1,950			175			85			381
Dividends on preferred stock		3,050			6,183			4,114			-			-			-			-
Combined fixed charges and preferred stock dividends	$	8,297		$	22,424		$	18,044		$	8,838		$	2,324		$	19,464		$	14,113
Ratio of earnings to combined fixed charges and preferred stock dividends		0.85			1.20			1.48			1.39			0.58			0.08			0.03