University of Memphis
Memphis, Tennessee · Public · 72.0% acceptance rate
ROI Score: 42/100 · Poor Value
University of Memphis scores 42/100 (Poor Value, red tier), a mid-pack ROI for a midsize urban public flagship. 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.
The data raises concerns about University of Memphis
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score42/100 - Poor Value tier (below 45). Most 4-year schools we track score 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 |
| Median 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 sticker price at University of Memphis is $10,728/year ($15,384/year out-of-state). But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $12,397/year, or roughly $49,588 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $10,607/year, while families earning over $110,000 pay $18,691/year.
The median graduate leaves with $23,300 in federal loan debt, translating to an estimated monthly payment of $247 on a standard 10-year repayment plan. Against median earnings of $48,458 ten years out, the debt-to-earnings ratio is 0.66 - within the recommended range but worth monitoring.
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, but the bottom-third earnings outcomes still trap many borrowers at the school's poor repayment rate.
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. Full-pay families should compare directly to UT-Knoxville (the state flagship) which produces meaningfully better outcomes. 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 | Nat'l Avg |
|---|---|---|
| 1-year repayment | 47.4% | 52.0% |
| 3-year repayment | 52.5% | 62.0% |
| 5-year repayment | 43.7% | 68.0% |
| 7-year repayment | 48.1% | 72.0% |
Completion Rate
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. These ranges are below national medians, signaling a regional-access mission rather than selective screening. 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.
Memphis's peer cohort is a tight band of regional-access southern publics. Austin Peay State University and East Tennessee State University land in similar Poor Value territory with slightly different earnings profiles. Eastern Kentucky University and University of South Alabama produce comparable completion and debt outcomes. Eastern Michigan University is the closest demographic peer outside the South with a near-identical scoring pattern. Across this peer set, Memphis's stronger engineering and CS earnings outcomes are a real differentiator; its weaker repayment rate is a real drag.
| 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, meaning state community college transfer pathways may serve them better.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about University of Memphis. With a net cost of $12,397 per year and median graduate earnings of only $48,458 ten years out, the estimated payback period exceeds 14.1 years. For most students, the financial return does not justify the cost.
Areas of concern include a 50.9% graduation rate and high debt relative to what graduates earn and concerning loan repayment rates and a long payback period.
Median debt of $23,300 against $48,458 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
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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.