The University of Memphis provides a decent education for a basic price. I attended the Business School. They went on probation and almost lost their accreditation, but fixed the issues before action was taken. I had a few teachers that wouldn't teach (requiring me to learn the material on my own), but a couple that really made me enjoy learning.
The University of Memphis has a very strong fraternity presence, and those fraternities are deeply divided by race. Racial tensions on campus are very high, and it is rare to see members of different ethnic groups holding events together.