You can make cheaper versions. Single 15" or 12", lower end drivers, etc. But they may not last very long with the abuse they will get in a frat house. The speakers you first linked to wouldn't last a week before you blew them up, or got fed up with how bad they sounded.
If you want cheaper you can get the same type of reciever with a pair of book shelf speakers (like Polks or build your own from a kit) and add a plate amp with a 12" or 15" sub and build a box. Not as cool looking as the Magna *** Laudes, but it will still rock, bump and get loud.