Here’s a news flash: Students living on campus at The University of Memphis are spending about $5000 per semester for tuition, dorm fees, food, books and various activities. Or at least some of their parents are.
In-state tuition fees increased from $1543 to $1735 per semester this year, according to Bill Stewart of the bursar’s office.
Students can also expect to pay anywhere from $200 to $600 for books this semester. However, they are likely to get only $50-$80 when they sell those books back at the end of the semester.
Food costs about $150-$200 a month, and extracurricular activities can run up to about $100 a month, for students who are not partying every weekend.
Budgeting is part of the game plan for most students, and many set aside specific amounts they won’t exceed in their monthly spending.
“I save up about $50-$75 a month for computer supplies,” said Chase Barch, a freshman with an undecided major who lives in Richardson Towers.
Although some students living on campus have their tuition covered by scholarships, or their parents pay it, many rely on financial aid grants and loans to subsidize their tuition and dorm fees. Others find jobs to make enough money to eat and pay car notes, insurance and credit card bills.
Barch, for example, depends on the combination of financial aid with a paycheck and tuition reimbursement from his job at FedEx to cover his bills.
Currently, The U of M itself employs 387 students, and that number will increase, according to Amy Sandlin of the Student Employment office.
“Students enrolled in six hours or more can apply for jobs on campus,” Sandlin said. “The money paid to the students is meant to give them a little bit of spending money, but the jobs are not intended to help pay for tuition.”
Although some students said they have little to complain about concerning food or even tuition prices, most interviewed agreed that book prices are too high.
“The University Store sells the books for way too much and then buys them back for way too little,” Barch said.
Marvin West, a senior in TV film production, said he plans only to spend about $150 on books this semester because he refuses to buy from the University Store.
“I buy my books online,” West said.
Other students have discovered other ways to save money.
“I shop for ramen noodles at an Asian market instead of eating on campus,” Barch said.
