#7 Best Public Universities in Tennessee

Memphis Tuition & Cost

Memphis, Tennessee

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How much does it cost to attend?

In State Tennessee Resident Sticker Price

In State Costs for University of Memphis
Fee Cost
Books and Supplies$1,600
Other Fees$1,704
Room and Board $9,354
Other Expenses Budget$5,419

Out of State Resident Sticker Price

Out of State Costs for University of Memphis
Fee Cost
Books and Supplies$1,600
Other Fees$1,704
Room and Board $9,354
Other Expenses Budget$5,419

In-State Tuition

In-state tuition at University of Memphis for undergraduate students residing in Tennessee is $8,352. Room and board charges total $9,354 per year. Students will also need to budget for books and supplies, which typically amount to $1,600 annually. Other administrative or academic fees are $1,704 for the year. Additionally, students should plan an estimated $5,419 for other miscellaneous expenses throughout the year. In sum, residents attending University of Memphis full time should expect a total annual cost of $26,429.

Out-of-State Tuition

Undergraduate tuition at University of Memphis is $12,384 for out-of-state students. Additionally, out-of-state students are charged $9,354 for room and board, $1,600 for textbooks and educational resources, plus fees of $1,704. Students are advised to budget $5,419 for other expenses. When these costs are combined, annual out-of-state charges total $30,461. This figure is 15.3% higher than what Tennessee residents pay.

All price data is sourced from the 2021/2022 U.S. Department of Education National Center for Education Statistics survey.

Net Price

The average reported annual net price for University of Memphis for students receiving grants or scholarship aid was $13,777 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

The net price provides a more realistic estimate of the true cost of attending University of Memphis, once common grants and scholarships have been taken into account. It's important to note that this net price can fluctuate based on factors such as family income and individual financial need.

Average Net Price 2019/2020

Net Price by Income University of Memphis
Family Income Net Price Paid
$0 to $30,000$11,084
$30,001 to $48,000$11,948
$48,001 to $75,000$16,825
$75,001 to $110,000$18,622

Financial Aid

98% of full-time undergrad University of Memphis received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $10,776 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 53% of students received Federal Student Loans averaging $5,089 and 3% of undergrads took out private student loans averaging $11,162.

Finanical Aid University of Memphis
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $10,776 98%
Institutional Grants and Scholarships $3,884 82%
Pell Grants $5,349 52%
Other Federal Grants $943 89%
State and Local Grants $4,872 76%
Federal Student Loans $5,089 53%
Other Student Loans $11,162 3%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to University of Memphis, we've modeled a ten year student loan with an original principal value of $40,444. The loan balance of $40,444 is a four year multiple of the $10,111 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $429 could be required to satisfy your student loan.

Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 4.99%.

Example Loan $40,444
Stafford Loan Interest Rate 4.99%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $428.77
Total Interest Paid $11,008.85
Sum of All Loan Payments $51,452.85

Projected 4 Year Degree Price

4 Year Sticker Price

Year Tennessee Residents Non Residents
1 $26,429 $30,461
2 $27,039 $31,164
3 $27,663 $31,883
4 $28,301 $32,619

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at University of Memphis to be $105,716 - assuming graduation in normal time. The estimation assumes a 2.3% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at University of Memphis
Price Per Credit 3 Credit Class 4 Credit Class
Tennessee Residents $348 $1,044 $1,392
Out of State Residents $516 $1,548 $2,064

Estimated cost for a class at University of Memphis based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at University of Memphis versus other colleges.

Tuition Payment Plans Available

University of Memphis Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan No
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Costs for Similar Colleges 

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Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=220862 IPEDS survey data for University of Memphis.