I would use something like the attachment below.
I don't think it makes sense to compare a weekly value with a monthly value. It depends a lot on what kind of data you want to compare and if all Data rows have a Daily, Weekly, and Monthly value.
Sometimes it doesn't make sense to compare Daily values with Monthly or Weekly. But it's important what kind of ...
Batch processing would be preferable but as that was not accepted you are left with updating on dropdown change.
I also think your users would prefer batch processing (i.e. could change all "In Progress" to "Approve" in one click, this would be a good feature) so perhaps raise that with your managers as an added usability benefit for everyone.
As this is ...
You have at least three complex and independent entities: Student, University, Hostel.
Even if the database isn't empty, there are cases when some university or hostel isn't registered yet. And you'll face an issue again.
My suggestion is to allow creation of the entities "on the fly", when admin fills the Student form. So, the main flow is Student ...
Based on these thoughts I'm trying to achieve a good balance in better UX and making the component too complex. Here's what I came up with, hoping I have done a decent job explaining it with an image.
I want to know if this approach would make it worse or better. Any thoughts on the values we can choose for 250 and 500, better alternatives?