Fee | Cost |
---|---|
Tuition | $8,208 |
Books and Supplies | $1,600 |
Other Fees | $1,704 |
Room and Board | $10,175 |
Other Expenses Budget | $4,699 |
Fee | Cost |
---|---|
Tuition | $12,048 |
Books and Supplies | $1,600 |
Other Fees | $1,704 |
Room and Board | $10,175 |
Other Expenses Budget | $4,699 |
Residents of Tennessee pay an annual total price of $26,386 to attend University of Memphis on a full time basis. This fee is comprised of $8,208 for tuition, $10,175 room and board, $1,600 for books and supplies and $1,704 for other fees.
Out of state residents are charged a total cost of $30,226 which is 14.6% higher than Tennessee residents. The tuition charge is $12,048 while room and board is $10,175, books and supplies are $1,600 and other fees come in at $1,704.
All price data is sourced from the 2019/2020 U.S. Department of Education National Center for Education Statistics survey.Find out which students are getting accepted at Memphis, which are not, and how your GPA, SAT, or ACT scores compare.
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Net price is indicative of what it actually costs to attend University of Memphis when typical grants and scholarships are considered. The net price varies by family income and financial need.
Family Income | Net Price Paid |
---|---|
$0 to $30,000 | $10,256 |
$30,001 to $48,000 | $12,264 |
$48,001 to $75,000 | $15,287 |
$75,001 to $110,000 | $18,061 |
$110,000+ | $18,020 |
The average reported annual net price for University of Memphis for students receiving grants or scholarship aid was $13,481 in 2018/2019. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses
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94% 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 $10,174 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 50% of students received Federal Student Loans averaging $5,229 and 3% of undergrads took out private student loans averaging $10,531.
Type | Avg./Student | Students Receiving |
---|---|---|
Total Grant and Scholarship Aid | $10,174 | 94% |
Institutional Grants and Scholarships | $4,137 | 79% |
Pell Grants | $5,173 | 52% |
Other Federal Grants | $868 | 7% |
State and Local Grants | $4,683 | 76% |
Federal Student Loans | $5,229 | 50% |
Other Student Loans | $10,531 | 3% |
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 $386 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 2.75%.
Example Loan | $40,444 |
Stafford Loan Interest Rate | 2.75% |
Time to Pay Off Student Loan | 10 years |
Example Monthly Payment | $385.88 |
Total Interest Paid | $5,861.64 |
Sum of All Loan Payments | $46,305.64 |
Year | Tennessee Residents | Non Residents |
---|---|---|
1 | $26,386 | $30,226 |
2 | $27,248 | $31,213 |
3 | $28,137 | $32,232 |
4 | $29,056 | $33,285 |
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 $105,544 - assuming graduation in normal time. The estimation assumes a 3.3% annual increase over the next 4 years which has been the recent trend for this school.
Price Per Credit | 3 Credit Class | 4 Credit Class | |
---|---|---|---|
Tennessee Residents | $342 | $1,026 | $1,368 | Out of State Residents | $502 | $1,506 | $2,008 |
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 Plan | Yes |
Prepaid Tuition Plan | No |
Alternative Tuition Plan | Yes |
Guaranteed Tuition Plan | No |
Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=220862 IPEDS survey data for University of Memphis.