I just started smoked recently and prefer mild-medium cigars, and I'm a student as well, so I feel the budget troubles. Personally, I prefer to smoke a quality stick once or twice a week rather than a couple cheap-os; however, if you're looking for a good, cheap smoke, I've been told that Flor de Oliva is very good (30$ for a bundle of 25? VERY cheap.)

As for a bit higher quality smoke, I tried out a Perdomo Champagne Churchill, and loved it. The smoke itself was a bit spicy, but it finished distinctly sweet and extremely smooth. It got a little boring for me about halfway through the stick, but I started walking around and chatting to people at my B&M, so I quit paying attention to the cigar, so I couldn't tell you precisely how the last half smoked. I felt like I was a bit bored with it, so I would recommend a robusto instead. You can pick up a five pack from Famoussmoke.com for 20$.

Devil's weed is also very good. It's a very flavorful mild-medium cigar. It's more of a boutique brand, and hard to get on the internet; the only site that I know of that stocks singles is silocigars.com (direct link: http://www.silocigars.com/advanced_s...s+weed&x=0&y=0) but if you want boxes you can check out vcigars.com

Also, if you hop over to CI their weekly special is a Rocky Patel Connecticut wrapper right now I believe. Haven't smoked one, but seems like it would be pretty mild.