For a shared one that you want to last, I'd think that going with a Hakko or a similar good brand would be ideal - they will be abused, they will be used improperly, but a good one should be sturdy enough and have good quality protections.
If you are really, really, strapped for cash - Dave had a video just a few days ago about setting up a $300 electronics lab with a decent Hakko knock-off soldering station.