I am a college student and would like to get a domain. I've been surfing around and checking out various webhosts.

My main concern is that I want to be able to give space to some of my friends. However, most TOS's state you can't "sublet" space, but to me, this means reselling the space you're buying. I would be giving them space for free so they can put up their resume's/portfolios/etc. I need at least 15 FTP accounts / subdomains. This way, they each have their own FTP and can't access the main control panel.

Does anyone know of any hosts that allow this? I know for fact I would not need more than 200-300MBs of space and 5-10 GBs of bandwidth. I need at least 3 mysql databases, php, perl, cgi, etc. Oh yes, I forgot to add that the price needs to be somewhere between 15-25 US dollars.

Please help me and my friends!

Try Aquasoft webhosting: he's pretty good about letting clients use subdomains to share their webspace.
http://aquasoftcomputers.com

For a little bit more money you could set up with a company like Splash Host or MCHost and order one of their reseller packages.

Splash Host for example would give you 1000Mb space & 12Gb transfer for $30 a month, and you get full control over how each account is set up within that 1000Mb, each account has its own control panel, as many FTP accs as you allocate, as many DBs etc etc

you could even sell a couple of accounts to workmates or something and pay for some of your hosting... :)

http://www.splashhost.com
http://www.mchost.com

Both have pretty good reputations on this board too

Try hosting4less.com They are very reliable (I use them currently) and I think they have a plan thats just right for you (professional plan). -Ves