University of Memphis
Memphis, Tennessee · Public · 72.0% acceptance rate
ROI Score: 42/100 · Below Benchmark
Data: 2024-25 College Scorecard release
University of Memphis scores 42/100 (Below Benchmark). The drivers are mixed: a respectable 60/100 earnings premium (0.271 over high-school baseline) and a 14.1-year payback period are offset by a 50.9% completion rate and a worrying 10/100 repayment rate (just 52.5% of borrowers reduce principal at three years, signaling a long tail of borrowers in default or forbearance). In-state tuition of $10,728 keeps the four-year cost moderate at $49,588 (net price $12,397), and median debt of $23,300 against $48,458 10-year earnings produces a 0.664 debt-to-earnings ratio, manageable for completers in higher-earning majors. The program data shows the school is heavily bimodal: engineering, computer science, and nursing graduates do quite well (B and B+ ROI grades, $65,000-$90,000 four-year earnings), while large humanities, social science, and education cohorts produce D and F grades. The 12,701-student campus serves a high-Pell (41.2%) Memphis-area population, and major selection is the single biggest driver of whether the math works.
How University of Memphis scores under our methodology
These are the College Scorecard measures that pull this school's CampusROI score down. They describe the published figures, not the quality of the education, and they are our reading of the data. Check them against your own aid offer and intended major.
- ROI Score42/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
University of Memphis
Quick Numbers
| In-state tuition + fees | $10,728/yr |
| Out-of-state tuition + fees | $15,384/yr |
| Average net price | $12,397/yr |
| Total 4-year cost (net) | $49,588 |
| Median earnings (10yr post-entry) | $48,458 |
| Average earnings (6yr post-entry) | $35,100 |
| Median debt at graduation | $23,300 |
| Estimated monthly loan payment | $247 |
| Estimated payback period | 14.1 years |
| 6-year graduation rate | 50.9% |
| Undergraduate enrollment | 12,701 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The first number you'll see is the sticker price: $10,728/year ($15,384/year out-of-state), which covers tuition and fees only. The net price counts books, supplies, and average living costs on top of tuition and fees, then subtracts grants and scholarships. For the average student here it comes to $12,397/year, or roughly $49,588 over four years. That's the number to plan around.
What you actually pay depends a lot on what your family earns. Families making under $30,000/year pay an average of $10,607/year here, while families earning over $110,000 pay $18,691/year.
Among graduates who borrowed, the median federal loan debt from this school is $23,300, which works out to about $247 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($35,100) and comes to 0.66, under 1.0, meaning median debt is less than a full year of those earnings.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | $10,607 |
| $30,001 - $48,000 | $10,968 |
| $48,001 - $75,000 | $13,923 |
| $75,001 - $110,000 | $17,384 |
| $110,001+ | $18,691 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $10,607 net, roughly $42,428 over four years. Combined with TN Promise and Pell stacking, this is a workable price point if the student finishes (only 50.9% do) and chooses a higher-earning major. Federal aid limits cap downside.
Middle-income families ($30K-$110K)
Households earning $48,001-$75,000 pay $13,923 net and $75,001-$110,000 pay $17,384. The mid-range income tier feels the biggest cost step-up. Middle-income Tennessee families lose Pell eligibility but gain little merit aid here; they pay $55,692 to $69,536 over four years. The math works in engineering, CS, accounting, and nursing; it struggles in humanities and most social sciences.
Higher-income families ($110K+)
Families above $110,000 pay $18,691 net, or about $74,764 over four years. Memphis at this price tier is a legitimate option only for students seeking specific programs or staying close to family in the Memphis area.
Earnings by Major
Top 10 most popular majors at University of Memphis with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Kinesiology and Exercise Science | $50,126 | D |
| Registered Nursing | $75,444 | B |
| Multi/Interdisciplinary Studies, Other | $49,707 | D |
| Psychology | $45,700 | D |
| Business Administration, Management, and Operations | $65,045 | C+ |
| Accounting | $71,038 | C+ |
| Criminal Justice and Corrections | $53,399 | D |
| Finance and Financial Management | $65,132 | C |
| Biology | $53,784 | D |
| Marketing | $67,468 | C+ |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Registered Nursing
Nursing is the school's flagship economic engine: 293 graduates, $73,680 first-year earnings rising to $75,444 by year four, $27,168 debt and a 0.369 debt-to-earnings ratio for a B ROI grade. The narrow earnings range between years 1 and 4 reflects the immediate licensure premium and modest seniority growth typical of bedside nursing. Memphis-area healthcare employers absorb graduates well; this is the school's clearest financial win.
Computer Science
Computer Science graduates 68 students with $57,233 first-year and a dramatic jump to $90,207 by year four against $24,672 debt for a 0.431 debt-to-earnings ratio and B grade. The 4-year earnings figure is the school's highest, reflecting strong tech-sector wage growth even from a regional public. The B grade understates the program's upside; this is arguably the highest-ROI major at Memphis for strong students.
Kinesiology and Exercise Science
Kinesiology is Memphis's largest single major with 424 graduates but produces a D ROI grade: $32,305 first-year earnings, $50,126 four-year, $27,500 debt, and a 0.851 debt-to-earnings ratio. The major typically funnels into graduate PT/OT/athletic training programs where real earnings appear, but starting that path with $27,500 in undergrad debt is rough. Students using kinesiology as a pre-grad path should keep debt low; those using it as a terminal degree face years of underemployment.
Business Administration, Management, and Operations
Business Admin produces 136 graduates with $47,611 first-year and $65,045 four-year earnings against $25,500 debt for a 0.536 debt-to-earnings ratio and C+ grade. Solid mainstream choice with Memphis-region employer absorption. Accounting (110 grads, C+) and Marketing (81 grads, C+) sit alongside it as similarly workable business-school paths.
Psychology
Psychology graduates 188 students at $31,582 first-year and $45,700 four-year earnings against $27,000 debt for a 0.855 debt-to-earnings ratio and D grade. As at most schools, undergrad psychology is essentially a pre-grad-school degree, and the financial math only works for students continuing to clinical or counseling masters/doctoral programs. Treat the D grade as accurate for terminal-degree students.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Median of schools we score |
|---|---|---|
| 1-year repayment | 47.4% | 68.8% |
| 3-year repayment | 52.5% | 73.6% |
| 5-year repayment | 43.7% | 67.7% |
| 7-year repayment | 48.1% | 72.8% |
Completion Rate
Trends Over Time
How University of Memphis’s cost and outcomes have moved across College Scorecard releases (2009-2024).
Average Net Price
Completion Rate
Median Earnings, 10 Years After Entry (as reported)
Earnings reflect borrowers measured 10 years after entry and publish on an irregular cadence with a multi-year reporting lag, so this series shows only the years the Department of Education reported - the data is never interpolated.
Source: U.S. Department of Education College Scorecard, release years shown. Net price and completion are reported annually.
Admissions Snapshot
| Acceptance rate | 72.0% |
| SAT Math (25th-75th) | 435-580 |
| SAT Reading (25th-75th) | 480-600 |
| ACT Composite (25th-75th) | 18-24 |
| Enrollment | 12,701 |
| Pell Grant recipients | 41.2% |
| Avg faculty salary (monthly) | $9,632 |
Memphis admits 72% of applicants with SAT mid-ranges of 435-580 math and 480-600 reading, and ACT mid-range 18-24. Prepared students with stronger test scores often pass through quickly to engineering and CS pipelines that produce strong outcomes; the school's 50.9% completion rate suggests the bottom academic third of admits face real attrition risk.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| University of Memphis (this school) | 42 | $12,397 | $48,458 |
| Eastern Michigan University | 42 | $15,407 | $51,793 |
| Eastern Kentucky University | 39 | $11,040 | $45,795 |
| University of South Alabama | 37 | $17,648 | $49,379 |
| Austin Peay State University | 36 | $9,735 | $44,301 |
| East Tennessee State University | 35 | $15,983 | $44,859 |
Who Thrives Here
University of Memphis fits Tennessee residents qualifying for in-state tuition and TN Promise/HOPE scholarship layering, committed to a higher-earning major (engineering, computer science, nursing, accounting), and using the school's urban location for internships at Memphis-based logistics, healthcare, and financial firms. With 12,701 students and 41.2% Pell, it's a legitimately accessible flagship. Students drawn to humanities, education, or social work should run major-specific ROI math: at this school, those majors produce D and F grades.
The Verdict: Below Benchmark Under Our Scoring
Under our methodology, University of Memphis scores 42/100, which falls in the Below Benchmark tier (below 45). At a net price of $12,397 per year, with typical graduate earnings of $48,458 ten years after entry, we estimate the payback period at about 14.1 years. In our view that makes the financial case a hard one to make on the numbers alone, but those numbers are averages: your major, your aid package and what you want from a degree all change the picture, so run your own numbers before you commit.
What to keep an eye on: its 50.9% graduation rate, a debt-to-earnings ratio of 0.66 (median across the schools we score: 0.61), a three-year loan repayment rate of 52.5% (median across the schools we score: 73.6%), a long payback period.
Median debt of $23,300 among graduates who borrowed, against average earnings of $35,100 six years after entry, gives a debt-to-earnings ratio of 0.66. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. Your major - and how much you borrow - really matters.
University of Memphis: Common Questions
Is University of Memphis worth it?
In our view, the financial case is a hard one to make on the numbers alone. University of Memphis scores 42/100 on our ROI scale, in the Below Benchmark tier (below 45). At $12,397 a year after aid against $48,458 in typical earnings ten years out, we estimate the payback period at about 14.1 years. Your major and aid package can change the picture, so run your own numbers.
How much does University of Memphis cost after financial aid?
The average net price - the cost of attendance (tuition, fees, books, supplies and average living costs) minus grants and scholarships, for full-time, first-time students receiving federal aid - is about $12,397 a year, or roughly $49,588 over four years. Because it counts living costs, it can run above tuition alone. That is the number to plan around. Actual cost varies by family income, per the U.S. Department of Education's College Scorecard.
What do University of Memphis graduates earn?
The typical graduate earns about $48,458 ten years after enrolling, roughly $6,658 a year more than the median high-school graduate ($41,800, per NCES, 2022). That earnings gap is what has to cover the cost of the degree.
How long does it take to pay off University of Memphis?
We estimate the payback period - the time it takes for the earnings bump over a high-school graduate to cover what you spent - at about 14.1 years for University of Memphis. The median across the schools we track is about 12 years.
How much debt do University of Memphis graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $23,300, against average earnings of $35,100 six years after entry - a debt-to-earnings ratio of 0.66. That is under 1.0 (a full year of those earnings); the median across the schools we score is about 0.61. How much you borrow really matters.
What is the graduation rate at University of Memphis?
The six-year graduation rate is 50.9%. The national average for four-year schools is 64% (NCES, 2022). Completion is 15% of our ROI score, since a degree you don't finish rarely pays back.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.