Average Annual Tuition at University of Memphis
The latest data we have for University of Memphis's annual average net costs are from 2018. These costs and and the average Tennessee schools include tuition, fees, living expenses, books, and fees minus the average grants and scholarships for federal financial aid recipients.
|In-state Tuition||Out-of-state Tuition||Median Debt||Avgerate Net Cost|
|University of Memphis||$9,317||$21,029||$25,000||$13,048|
As you can see, annual costs at University of Memphis have risen over the last few years, and are projected to continue to skyrocket based on our analysis.
Actual Costs Projected Costs
Colleges and universities across the United States experienced cost (tuition + living) increases of 2.5% in 2019. This most recent inflation figure was down slightly from the 2.9 percent in 2018 and 3.4 percent in 2017, but still underscores the rising costs of sending your children to higher education.
These rising costs are hitting closer to home in Tennessee as well. Tennessee's' higher education costs rose by 55.5% in just the last 10 years, ranking as the 11th highest state.
University of Memphis Financial Assistance
55% of students enrolled at University of Memphis receive some form of Federal loan assistance. You can view University of Memphis's student aid calculator here.
Use a 529 Plan to Offset Rising Education Costs
One of the most sound investments you can make to help pay for your child's higher education is by using a 529 plan. These funds grow in a tax-free environment, and generally have a 3-5% rate of return. The only catch is that all funds need to be used for higher education, and if not... there are monetary penalties imposed when withdrawn for other uses.
The Tennessee State Treasury Department operates a direct-sold multi-manager 529 plan (TNStars College Savings 529 Program). The unit-type prepaid tuition program for Tennessee residents was closed to new contributions in November 2010.
|State Plan Name:||TN Stars College Savings 529 Program|
|Maximum Contribution:||Account balances can’t exceed $350,000. After this, only account earnings can add to the balance.|
|Fees:||An annual asset-based fee of 0.35% except with First Tennessee Interest Bearing Accounts, which don’t have fees.|
Tennessee School Statistics
We've analyzed all other higher education schools in TN, and wrapped it up nicely into a report for you. View our TN analysis report.
There are 9 other accredited public schools located in the state of Tennessee. You can view all TN schools here.