#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 $10,175
Other Expenses Budget$4,699
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 $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 2020/2021 U.S. Department of Education National Center for Education Statistics survey.

Net Price

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.

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

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

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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 $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

Projected 4 Year Degree Price

4 Year Sticker Price
Year Tennessee Residents Non Residents
1 $26,386 $30,226
2 $27,026 $30,959
3 $27,682 $31,710
4 $28,354 $32,480

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 2.4% 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 $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 Plans Available

University of Memphis Payment Plans
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.