Yes, it is quite good for middle-class students. Some even take education loans to study at the Manipal University. You will find students from a similar financial background as you.

The university has a very good reputation both nationally and internationally. It is known to offer the best opportunities for placements. One good point is that it does not sponsor seats, unlike various other institutes.

However, there are other things to take into account. A huge number of students arrive from very affluent lifestyles. Students sometimes fall trap of unlawful activities outside the campus. It is because of factors like that they suffer from distraction both academically and mentally. 

Hence, if you have an inclination towards it and you are keen to take forward your career without further hindrance or distraction, then Manipal University can be a good choice nonetheless.